What version of Premiere Elements are you using and on what computer operating system is it running?
From your description "little circle with a line in it", that sound like a symbol when you are trying to do a cannot do operation.
What exactly are you doing in your edit activities when you see this circle with a line in it? Is it at the end of the mouse cursor?
Can you post a screenshot of it?
If my first impression of what this is happens to be correct, then "How do I get rid of it?" answer comes from
a. defining what you want to do
b. correcting any mis-steps you are taking in doing that
We will be watching for your follow up.