To do this, you'll need to create your own output preset. And it's kind of a waste anyway -- since the video in your camcorder is compressed and so is the video while you're working on it in Premiere Elements. But here goes:
Go to Share/Personal Computer and select Quicktime. Then click the Advanced button.
In the Advanced option menu, set your Video Codec to None (from the drop-down menu), slide the Quality slider to 100%, set the Width and Height and Frame Rate to the specs of the video you're getting from your camcorder.
When you click the OK button, the program will ask you if you want to save this as a preset. Give it a name it and will be available in the future whenever you want it.
Uncompressed video really is more a characteristic of a professional workflow rather than a consumer workflow. Programs like After Effects, Premiere Pro and Final Cut are much more likely to work with it than a program like Premiere Elements.
Thank you Steve. That was pretty easy. I assumed that you meant "Apple None" for the Codec, as there was not a choice for plain old "None". My 7 second video wound up being a whopping 1.2gb. Wow.
Yes. Uncompressed video is between 1 and 2 gigs per minute of video, I think. About four times that for hi-def.