Help making a watermark?

Does Photoshop elements have actions?
It occurs to me that to save faffing with another price of software creating an action that applies a watermark would be fairly simple!
Just a layer with some text with the opacity set fairly low would do it ...
My Photoshop (especially elements) isn't great so let's see if we can get a tutorial out of someone else ... I'll make this into another thread for you ...
Can anyone help?
 
This should help:

[video=youtube;H8ag4m-kbug]http://www.youtube.com/watch?v=H8ag4m-kbug[/video]
 
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