Ok this is what I would like to do, I have a light swich that is in the wrong place and I would like to move it but it is in a finished wall and can't get to those, so this is what I need help with - This is in my basement I have acess to the wires that are going to the light, So what I was thinking about doing is this, undoing the wires that are at the ceiling light run them down to a new light juntion box, run a new wire from that juntion box to the ceiling light conect the wires to a new light swich... is this OK to do this?

By junction box do you by any chance mean the box for the switch? If so that is fine. Just pull a new wire to where you want the new switch and connect. Abandon the old switch line. You could remove the old switch and/or box, cut the line and leave in the wall.
If you mean add true junction box somewhere (like in the ceiling) that would be OK, but that box would always have to be accessible. In other words you can't hide it.