$(function () {
        $('ul.spy').simpleSpy();
    });
    
    (function ($) {
        
    $.fn.simpleSpy = function (limit, interval) {
        limit = limit || 3;
        interval = interval || 4000;
        
        return this.each(function () {
            // 1. setup
                // capture a cache of all the list items
                // chomp the list down to limit li elements
            var $list = $(this),
                items = [], // uninitialised
                currentItem = limit,
                total = 0, // initialise later on
                height = $list.find('> li:first').height();
                
            // capture the cache
            $list.find('> li').each(function () {
                items.push('<li>' + $(this).html() + '</li>');
            });
            
            total = items.length;
            
            $list.wrap('<div class="spyWrapper" />').parent().css({ height : height * limit });
            
            $list.find('> li').filter(':gt(' + (limit - 1) + ')').remove();
    
            // 2. effect        
            function spy() {
                // insert a new item with opacity and height of zero
                var $insert = $(items[currentItem]).css({
                    height : 0,
                    opacity : 0,
                    display : 'none'
                }).prependTo($list);
                            
                // fade the LAST item out
                $list.find('> li:last').animate({ opacity : 0}, 1000, function () {
                    // increase the height of the NEW first item
                    $insert.animate({ height : height }, 1000).animate({ opacity : 1 }, 1000);
                    
                    // AND at the same time - decrease the height of the LAST item
                    // $(this).animate({ height : 0 }, 1000, function () {
                        // finally fade the first item in (and we can remove the last)
                        $(this).remove();
                    // });
                });
                
                currentItem++;
                if (currentItem >= total) {
                    currentItem = 0;
                }
                
                setTimeout(spy, interval)
            }
            
            spy();
        });
    };
        
    })(jQuery);