I can remember back in BC when i was playing i was thinking of new abilities that i wished my hunter could have. And not to long ago i learned that hunters (and even warlocks) get a new version of the ability “Stay”. It works the exact same way i had thought back in BC.
Take a look at this video from Frostheim and Warcraft Hunters Union.
Cataclysm Beta Hunter Preview: Pet “Stay” Command
You click it and get a green targeting circle. And wherever you click, your pet will go there. Even if its out of range or on a impossible to climb cliff face.
