[QUOTE=Nimtrix] Okay, first you'll need to save the target object. You can do this by storing the picked object's UID in a variable. Then it's just a matter of rotating the missile towards the picked object. The simplest way would be with the "Rotate towards position" action.
Here's a .capx to illustrate: HomingMissile.capx (r99)
Thank you so much Nimtrix that was exactly what i was looking for.