For more information, see the following topics:
With the Smart Tool, you can instantly access the Selector, Grabber, and Trim tools, and you can also perform fades and crossfades. The position of the cursor in relation to a clip or note, or within an automation playlist, determines how the Smart Tool functions.
To select the Smart Tool, click its icon in the upper left of the Edit window, or press F6+F7 (or F7+F8) simultaneously.