I don't believe that Elements will manipulate raw files, but I am not sure. If you have a Canon camera, you should have the raw-file manipulation (DPP?) software that came with it.
It does.. kinda. Been awhile, but seems like it would load it in, you can manipulate the chroma, color and all that, then save it in whatever (TIFF, PSD etc) and edit it.
This might have been using the Pentax raw format.
I've accidentally swallowed some Scrabble tiles. My next crap could spell disaster.