Also, dragging a transient marker in an open ended situation like this does not create a new warp marker. Instead, Live will allow you to warp the audio using transient markers only.
Here are some pics to better illustrate what I mean:
Normal:

Warp Inserted/Audio Manipulated:

Warp Deleted:

As you can see, the audio between the first warp marker and where the deleted warp marker was stays put, while the audio after the placement of the deleted warp marker snaps back.
Now for the Transient Marker:
Normal:

Transient Inserted/Audio Manipulated:

Dragging the Transient Marker does not create a warp marker, and warps the audio regardless.
Transient Deleted:

Deleting the Transient Marker does absolutely nothing to the manipulated audio, as if it were never manipulated.