Edit in JSFiddle

var result = document.id('result');

document.id('wrapper').addEvent('click', function(){
    this.highlight();
    result.appendText('clicked the wrapper\n');
});

document.id('clickme').addEvent('click', function(event){
    event.preventDefault();
    this.highlight();
    result.appendText('clicked the link\n');
});

<div id="wrapper">
    <a href="#" id="clickme">Click Me</a>
</div>

<pre id="result"></pre>

#wrapper {
    padding: 20px;
    background: #00f;
}

#clickme {
    display: block;
    padding: 20px;
    font-size: 2em;
    background: #f00;
}