Dynamic text?

Is it possible to have a dynamic text field with some of the text one color and another part of the text some other color? Example: INTRODUCTION. I need INTRO to be red and DUCTION to be white. This is my code sofar.

// change title 
_global.changeTitle = function(title:String) {
    // set chapter text
    _root.chapter.title.autoSize = "right";
    _root.chapter.title.text = title;