Can't fade dynamic text through AS

Ok, I know I need to embed the font and declare the font in a setFormat string. And I have… the the bloody thing still doesn’t work.


this.createEmptyMovieClip("cat",this.getNextHighestDepth());
cat.createTextField("txt",this.getNextHighestDepth(),0,0,100,50);

var my_fmt:TextFormat = new TextFormat();
my_fmt.font = "Times";

cat.txt.embedFonts = true;
cat.txt.text = "cat";
cat.txt.setTextFormat(my_fmt);

cat._alpha = 50;

Anyone see what I’m doing wrong?