Cutting and Pasting in Mac OS X Lion
In order to cut and paste in Mac OS X Lion, choose the file(s) that you want to cut, then press Cmd+C on your keyboard. Then move to the folder where you want to paste your files and press Cmd+Alt+V (as opposed to Cmd+v which simply pastes). Cmd+Alt+V pastes by cutting the origin files.
Don,t you mean option (not alt)? Works for dragging also
Apple keyboard says Alt and Cmd so I thought it would be easier for the readers to spot the keys on their keyboard.