Slideshow - populate with createEmptyMovieClips/swapdepth or _level etc

AS noob here. I envisioned to create a xml slideshow that’ll populate and preload images with createEmptyMovieClips at once and do particular functions to work as a slideshow. I have brainstormed the functions:

functions
-Load XML file
-Preload all images at once and populate them into with createEmptyMovieClips. Will the functions cache images? or do we have to add more functions in order to cache them that way the bandwidth will be conserve?
-Use depth or _level to stack images based on their “child” in order in xml file and set all in alpha 0 except the first child on top stack
-Loop slideshow to fade in/fade out top two stacks (simulate slideshow) and move faded out top image down to last stack and move others up in stack order

However there’s one problem: it’s BEYOND my new-founding AS knowledge to figure out how to develop the heavy AS stuff to accomplish the slideshow. Anybody willing to give me help, hint, tip, point to right direction whatever that’ll help create this slideshow??

Appreciate the help in advance!

Friggin’ Mick