Edward,
Elements 2 does have the ability to save the selection (the same as the full Photoshop’s "alpha channels")while Elements 1 does not.
You can work around that limitation in Elements 1. You may want to see Jay Arraich’s page on simulating alpha channels
http://www.arraich.com/elements/pse_mmask1.htm If you have already made a selection and want to save that selection for future use, the easiest thing to do is create a new "layer via copy". I have Elements 2 so I’m not sure if the terminology is the same for version
1. The idea is that you want to create a layer that contains only the part
of the image that was selected. After you’ve created that layer, give it a name so you’ll remember why you created it and then turn off the visibility by clicking on the layer "eyeball" so it won’t get in the way. Later, when you want to retrieve the selection, hold down the ctrl key (or the mac equivalent if you’re on that platform) and click on the layer you created for that purpose. The selection will reappear.
Bob
