well if its always the $3 word you can do
$left($gettok($3,1,32), -1) this pushes the text to backup one character so if $3 == Hello. it will come out Hello if you do
$left($gettok($3,1,32), -2) this pushes the text to back 2 characters if $3 == Hello. it will come out Hell
or then again you can just do $left($3,-1)
example if lets say a phrase was like
Hi my name is lpfix and im scripting!
you can replace the ! with a .
$left($1-,-1) $+ .
but if you want to take the middle of text then use gettok commands like example
Hello I love to script, and I like baseball.
I can strip I love to script from there and use it has a Statement
so this would be the script
on *:TEXT:*:#: {
if (script isin $1-) {
msg $chan $left($gettok($1-,2-5,32),-1) $+ !
}
}
see what i did is get the token 2 to 5 then removed the , from it and added a !
so my script will message to the channel I love to script!

hope this helps