Need major imagecache help

I'm not a total newbie on Drupal but I can't for life of me get imagecache working. here is the error message i get when i try to click the preview image when i set up my presets:

* warning: getimagesize(sites/test.mysite.com/files/imagecache/gallery_photo/imagecache_sample.png) [function.getimagesize]: failed to open stream: No such file or directory in /home/content/g/a/f/myusername/html/sites/test.mysite.com/modules/imagecache/imagecache.module on line 479.
* warning: stat() [function.stat]: stat failed for sites/test.mysite.com/files/imagecache/gallery_photo/imagecache_sample.png in /home/content/g/a/f/myusername/html/sites/test.mysite.com/modules/imagecache/imagecache.module on line 482.

I am using a multi-site setup and have 4 sites up and running with not much problem. Here are some of my settings:
Drupal 6.14
Host: godaddy
php: 5.x (not sure on which)

I've gone through the troubleshooting guide at http://drupal.org/node/224913.

I don't know what to do next!!! Help please!