Actually, I might sneak a dig in somewhere. You probably should read all the way through just in case.
Flash now has built-in tweening classes that allow you to do things to make graphics bounce around easily. Problem is, like much of the Flash class library, it's buggy and sometimes it doesn't work as advertised.
Enter MC Tween. A tween class alternative that works much better and is way easier to use than the ones built in to Flash.
Using it is as simple as replacing your existing "move the sprite" code:
mySprite._x = 100;
mySprite.xSlideTo(100, 2, "easeOutElastic");
Rather than moving the object to 100 instantaneously, it'll now slide the object to position 100 over a period of two seconds using an springy elastic effect.
It works great, and it's much simpler than the built-in ones. There are plenty of functions to apply these tweens to almost anything (position, scale, alpha, rotation, etc). You can also pass arrays as elements if you want to tween several items simultaneously.
Check out the "animation types" and "examples" pages to see some cool effects done with it.
Highly recommended. Check it out.
Oops, Sorry David. It didn't seem to mention you at all. Maybe next time.
You might wanna check out the comments. Maybe somebody will say something damaging there.