Are you saying this is only with your video export or while you're editing? What export/share settings are you using?
What model of camcorder is your video coming from and what format and resolution is it?
When you started your Premiere Elements project, which project settings did you select? If you selected the correct settings for your video, there will be NO red lines above the video clips when you add them to your timeline. Is this the case with your project?
Read Bill Hunt on a file type as WRAPPER http://forums.adobe.com/thread/440037
What is a CODEC... a Primer http://forums.adobe.com/thread/546811
What CODEC is INSIDE that file? http://forums.adobe.com/thread/440037
Report back with the codec details of your file, use the programs below... a screen
shot works well to SHOW people what you are doing
For PC http://www.headbands.com/gspot/ or http://mediainfo.sourceforge.net/en
For Mac http://mediainspector.massanti.com/
If you have a red line over the timeline after importing a video and before adding any
effects... your project is wrong for your video... read above about codecs
Once you know exactly what it is you are editing, report back with that information...
and your project setting, and if there is a red line above the video in the timeline,
which indicates a mismatch between video and project
The easy way to insure that your video and your project match
See 2nd post for picture of NEW ITEM process http://forums.adobe.com/thread/872666
More information needed for someone to help... click these links and provided the