Mine

<?php
//this is simple code to watermark and resize images making thumbnails.
//comes from http://hatemyblog.wordpress.com/2009/09/08/php-watermark-and-resize-image/
		
		$srcimg = "thebigphoto.jpg";	//the source file
		$tmimg = "sm_".$srcimg;			//were to place the thumb
		$wmimg = "watermark.pbr";		//the watermark files
		$target  = 150;					//thumbnail target size
		$waterlevel = 40;				//the level of opacity
		
		//load the jpeg and get its sizes
		$image = imagecreatefromjpeg($srcimg);  
		$size = getimagesize($srcimg);  
		
		//this if just figures out what side is dominant
		if ($size[0] > $size[1]) {
			$percentage = ($target / $size[0]);
		} else {
			$percentage = ($target / $size[1]);
		}
		//calc the thumb sizes
		$newwidth = round($size[0] * $percentage);
		$newheight = round($size[1] * $percentage); 
		
		//make a new img | copy the smaller | save as jpeg | clean up
		$thumb = imagecreatetruecolor($newwidth, $newheight);		
		imagecopyresized($thumb, $image, 0, 0, 0, 0, $newwidth, $newheight, $size[0], $size[1]);		
		imagejpeg($thumb,$tmimg);
		imagedestroy($thumb);
		
		//make watermage img | and get its sizes;
		$watermark = imagecreatefrompng($wmimg);  
		$watermark_width = imagesx($watermark);  
		$watermark_height = imagesy($watermark);  

		this will place it Bottom-Left, 5px from the border
		$dest_x = $size[0] - $watermark_width - 5;  
		$dest_y = $size[1] - $watermark_height - 5;  
		
		//copy it over | save it over the original | and clean up
		imagecopymerge($image, $watermark, $dest_x, $dest_y, 0, 0, $watermark_width, $watermark_height, $waterlevel);  
		imagejpeg($image,$srcimg );  	
		imagedestroy($watermark);		
		imagedestroy($image);

?>