I've been looking around the creation kit wiki looking for an answer.

What I want to do is hit a switch and have steam rise up from the ground.

I got the switch, the steam and even figured out how to enable the steam using the steam valve activator, now I just need to figure out how to have the steam rise up from the starting position to a heading marker (even z coordinates would work) and back down again once the steam switch is turned of.

Everything I have found talks about translating actors and activators. It says nothing about statics or fx. Anyone have any ideas or point me in the right direction.

Try looking for moving water, if mist / steam will move a script similar to one that moves water should do the trick.

From all that I have gathered using Kagranzel (sp?) as a reference. I think I am going to have to make the steam an activator. Right track maybe?

You'll want to use http://www.creationkit.com/TranslateTo_-_ObjectReference, and it should be fine as a static since mist doesn't have collision.