You might want to take a look at this:
http://bavotasan.com/2009/creating-a-jquery-mouseover-fade-effect/
I think this is what you want ?
$("img.a").hover(
function() {
$(this).stop().animate({"opacity": "0"}, "slow");
},
function() {
$(this).stop().animate({"opacity": "1"}, "slow");
});
});
HTML:
<img src="image1.jpg" alt="" class="a" />
<img src="image2.jpg" alt="" class="b" />