I have some code in place to make a textbox look more like a label (sort of a "read only" status, of sorts).
tbFirstName.BorderWidth = 0;
tbFirstName.ReadOnly = true;
But, I can still put an insertion point next to the text.
See my screencast. Notice around time index :34 seconds, I click next tot he W and it seems to put an insertion point next to the W ( W | ) but of course you cannot change the W by typing or anything, it still looks odd.