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Mark the scene you want, and save that scene to a new file name
Also, Premiere Elements and Photoshop Elements both include a program called Organizer -- a scaled-down version of Adobe's Bridge program.
This program allows you to tag your photos and video clips with key words or tag them as albums so that you can quickly locate all the files tagged with, say, the name of a player or the date of a game. You can also add 1-to-5 star ratings to your clips so that you can isolate your search and grab only files that are, say, 5-star rated.
Thank you for the swift replies. I am brand new to Premier Elements and have not found my way to learn how to mark and save a subclip. Can you point me to the elements menus or shortcuts that will do that? I have learned to split clips in the timeline, but not how to save the individual subclips. I have heard of bins and thought I would put my saved clips there, but I don't know if that is Pro or Elements feature.
The easiest way to do it is to place your longer clip on the timeline and then either trim the clip (by dragging the beginning or end in) to short it to just the area you want to out or use the slice tool (the scissors icon on the Monitor) to slice certain areas of your clip, which you can then select and delete. (The original clip won't be changed. You're only trimming what's on the timeline.) Then you just Share this clip as a DV-AVI.