When you first open your Premiere Elements project, it will ask you to locate your files -- which MUST either be on your computer or on a permanently connected external drive. When you locate one file for your project, the program will automatically reconnect all other missing files that are in the directory folder. When you save your project, it will save the new file locations to your project.
Per my book, the Organizer includes a tool (Find/Reconnect Missing Files) under its File menu. It can do this either automatically or manually. But, again, the drive where these files are located must remain a permanent part of your computer system in order for these links to remain intact.
Along with Steve's suggestions and observations, I would see this article on what the PREL (Project) file is: http://forums.adobe.com/message/3397716#3397716
This article discusses re-linking Assets to the PREL: http://forums.adobe.com/message/4598705#4598705
This article gives tips on working from external HDD's: http://forums.adobe.com/message/4542396#4542396
yes he is asking but nothing move when I give the location they were before
Regarding "reconnect missing files" I have done and the organiser is
showing again the files, that's a good thing, BUT still nothing move on the
2012/12/3 Steve Grisetti <email@example.com>
Re: recover files source created by Steve Grisetti<http://forums.adobe.com/people/Steve+Grisetti>in
Premiere Elements - View the full discussion<http://forums.adobe.com/message/4892240#4892240