Animating a dynamic text field

Hi all
I am trying to load the data from a txt file into a dynamic textfield.
It works fine on the initial stage.
But if i nest the text field inside a movieclip called “my_movieclip” it does not load.
eg: _root.my_movieclip.newUpdates_txt.text = Update_lv.latestNews;

Another problem is if I rotate the text field it again wont show??

Update_lv = new LoadVars();
Update_lv.onLoad = onText;
function onText() {
 _root.my_movieclip.newUpdates_txt.text = Update_lv.latestNews;

is this a no go with dynamic text that is externally loaded???

or should I use xml as a healthy alternative?

thanks for any advice…:red: