document.observe('dom:loaded',function(){
	var newsSource = $("data");
	var newsDisplay = $("newscontainer");
	var delayBetweenItems = 3;
	var effectSpeed = 5;
	var tag = newsSource.firstDescendant().tagName.toLowerCase();
	tag = ($w('ol ul').include(tag)) ? 'li' : tag;
	var data = newsSource.hide().select(tag).pluck('innerHTML');
	var news = newsDisplay.down(tag).update(data.first());
	var index = 0;
	var newsCycle = function(){
		index = (++index >= data.length ? 0 : index)
		new Effect.Morph(news,{
			style: 'opacity: 0',
			delay:delayBetweenItems,
			duration:effectSpeed,
			afterFinish:function(){
				new Effect.Morph(news,{
					style: 'opacity: 1',
					duration:effectSpeed,
					beforeStart:function(){
						news.update(data[index]);
					},
					afterFinish:newsCycle
				});
			}
		});
	};
	newsCycle();
});