I am going to say NO.
Mouse moves are messaged pumped and there for they need to stand in line with the others in the que.
Also the OS needs to time share.
Depending on your needs you can do this.
Whenever a mouse move is detected, you can log each position to be compared to the next position and from that you can calculate the angle at which the mouse is moving and determine what square the plotted line is intersecting using some trig math.
So, monitoring a specific key being held down to determine a drag operation for example.
Jamie