function initArray() {
this.length = initArray.arguments.length;
for (var i = 0; i < this.length; i++) {
this[i] = initArray.arguments[i];
   }
}

var ctext = "<b>New</b>";
var speed = 200;
var x = 0;
var color = new initArray(
"#CC0000", 
"black"
);
if(navigator.appName == "Netscape") {
document.write('<span id="c"><<'+ctext+'>></span><br>');
}
if (navigator.appVersion.indexOf("MSIE") != -1){
document.write('<span id="c"><< '+ctext+' >></span>');
}
function chcolor(){ 
if(navigator.appName == "Netscape") {
document.c.document.write('<font color="'+color[x]);
document.c.document.write('">'+ctext+'</font>');
document.c.document.close();
}
else if (navigator.appVersion.indexOf("MSIE") != -1){
document.all.c.style.color = color[x];
}
(x < color.length-1) ? x++ : x = 0;
}
setInterval("chcolor()",speed);