| Exactly what I was about to say. Basically, use a variable to keep track of whether or not the mouse button is down. Below, the variable varMouseDown is 1 when the mouse button is down, and 0 when it isn't. 
 
 SuperStrict
Global wndMain:TGadget = CreateWindow("Test Window", 100, 100, 400, 300, Null, 11)
Global gadPanel:TGadget = CreatePanel(0,0,ClientWidth(wndMain),ClientHeight(wndMain),wndMain,PANEL_ACTIVE)
SetPanelColor(gadPanel,255,0,0)			'So that you can see the panel and know it is there
SetGadgetLayout(gadPanel,1,1,1,1)			'Make sure the panel stretches when panel is resized
Local varCount:Int = 0
Local varMouseDown:Int = 0
Repeat
	Select PollEvent()
	
		Case EVENT_MOUSEDOWN ; If EventSource() = gadPanel Then varMouseDown = 1
		Case EVENT_MOUSEUP ; If EventSource() = gadPanel Then varMouseDown = 0
		
		Case EVENT_WINDOWCLOSE ; End
		
	EndSelect
	If varMouseDown Then			'If mouse is currently held down then do something
	
		varCount:+1
		SetStatusText(wndMain,"Count: " + varCount)
	EndIf	
Forever
 
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