speech balloons in PS - a mini-tutorial :)
This is so quick and easy, it won't even need a cut:
-Switch to selection tool, set it to 'ellipse'
-add the little arm using the polygonal-lasso
-right-click on the selection: you'll get a drop-down menu which should include the options 'fill area' and 'fill contour' [or 'fill' and 'stroke']. Fill the area with white, the contour with black (you can select the pixel width) and voilĂ , speech balloon.
(Okay, some of you are probably saying "D'uh" right now but I really did not know this!) Hm, I think I'll use elliptical balloons for "Fear of the Dark"...

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I want to find it because this sounds great and super-easy. Thanks for the passing it on, anyway!
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Excellent! Thanks so much for the tip, it's going to save me a lot of time and aggravation. :D
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I used to draw the ellipses by hand. This should make things a lot easier.
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Edit: Ahhh, after fiddling around in Photoshop and re-reading your instructions more closely, I think that "fill area" and "fill contour" are actually the Fill and Stroke on my version of Photoshop. But I just realized that, as long as your word balloons don't overlap, all you have to do is fill them (Fill Contour) and then you can use Layer Styles to put the stroke onto the whole word balloon layer! This makes it easier to edit word balloons later without having to redraw the balloon. (The bane of my existence, because I keep changing dialogue and having to redo the balloon, or moving it and needing the speech tag to point in a different direction, or something.) I'm not sure if this would be useful to anyone else but me, but I've been doing mine the same way for so long that I hadn't even thought of looking for other ways to do it 'til reading your post!
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Yeah, my version is in German and sometimes those descriptions don't translate verbatim. The next version I get, I'll make certain to install in English.
But I just realized that, as long as your word balloons don't overlap, all you have to do is fill them (Fill Contour) and then you can use Layer Styles to put the stroke onto the whole word balloon layer! This makes it easier to edit word balloons later without having to redraw the balloon.
Sounds interesting - I have no idea what Layer Style is, but I should be able to figure it out with the help of my trusty PS book.
Usually when I need to change a balloon, I just select it and then use 'transform' to pull it into the shape I need. (Well, again, I don't know what 'transformieren' is called in the English version.)