Add preloader to emptyMovieClip

[prototype]

I did a search but couldn't find exactly what I was looking for. I'm loading an external jpg into an emptyMovieClip (AS1) on the _root timeline and I want to implement a preloader so when the jpg loads it fades in, not show up abruptly.

Here's my code:

// Load an external Image
function loadImage(imageFile) {
var imageFile;
_root.createEmptyMovieClip("photoHolder",-16384);
loadMovie(imageFile,"photoHolder");
photoHolder._x = 7;
photoHolder._y = 90;
photoHolder._alpha = 0;
photoHolder.alphaTo(100, 2.5, "easeOutCirc");
}

Thanks for any help!!

[prototype]

Deadline for site this week. If someone could help or point me to appropriate reference/source code it would be great! This loader is not in a MovieClip but on the _root timeline.

Thanks in advance!