mitcheljh,
There is some existing functionality that would really help with what you're doing. It's called complete-next. In the default SlickEdit bindings, it's Ctrl+Shift+Period. You'll also want complete-more, which defaults to Ctrl+Shift+Space.
This is a html line in which the work, emphasized need to be tagged.
As you normally would, put your cursor before emphasized and type your tag.
This is a html line in which the work, <em></em>emphasized need to be tagged.
Place your cursor in the middle of the tags and do complete-next. At this point, it's going to highlight the "em" in , not really what you want. So do complete-next again, and you should see this:
This is a html line in which the work, <em>emphasized</em>emphasized need to be tagged.
But now you have two emphasized texts. Not really what you want. At this point you could use cut or "delete-selection" to clear the second emphasized.
This is a html line in which the work, <em>emphasized</em> need to be tagged.
On to making it work for phrases. Let's say that you wanted "emphasized need to be" as the phrase you wanted to wrap. Get your line back to this point:
This is a html line in which the work, <em></em>emphasized need to be tagged.
Place your cursor between the tags as you did before and complete-next twice to highlight emphasized. From this point, you can highlight additional words with complete-more. Since you want three more words, press complete-more (Ctrl+Shift+Space) three times.
This is a html line in which the work, <em>emphasized need to be</em>emphasized need to be tagged.
Once again, do a cut or a delete-selection (no default key) to clear the leftover words.
This is a html line in which the work, <em>emphasized need to be</em> tagged.
It sounds like a lot of work, but in practice it's usually faster and easier than dragging your phrase into the tags. Once you get used to it, it can be applied to all sorts of code editing.