Stretch mode is the default mode when you enable grips.  If you were to select a line or a circle or a polygon, and simply grab the end point or quadrant grip, you will be able to stretch the object with out doing any further mode selection.  In the case of the circle, you are in fact scaling the circle when you select the quadrant grip.
You also have the option of creating copies of the stretched object that you have selected.  To do this, you need to select an object, use your right mouse button to show the flyout, select the base point then select the copy option.  Now you can create as many stretched copies of the object as you desire.
By the way, you can activate as many grips as you need by holding down your shift key when selecting.