Everyday Flash, have a great tutorial on how to make a cool reflection effect using actionscript 3.
Tutorial | Create a reflection effect with Flash/AS3
About the Author: Carlos Pinho
A father, a husband and a geek... Carlos was the founder of projects like The Tech Labs and Flash Enabled Blog. He is the founder of TekTuts He is passionate about technologies. Their main skills are in analytics, transport & logistics, business administration. He also writes about programming resources, trends, strategy and web development.