No, I think this is not possible.
The next best thing is, to hide the enities you don't need, then you can use a drag-box to select the remaining entities in one action.
Inverting display (enities hidden vs. visible) is possible.
It is possible. I just found out.
You can do it using the "Display Group Toolbar", i.e the tool bar with two circles,twocircles circles and a square .
Thnks
Shindey