JQuery :: Hide Append Show Repeat?

I have 4 images/text in a UL, each within an LI, sitting in a Div as per follows:

<div id="scrollerwrap" style="overflow: hidden; height: 40px;width:80px;">
<ul id="scrolleritems" style="position: relative;width: 1000px;float: left;">
<li id="test1" style="margin:3px; width:80px; height:40px;float:left;position: relative;">1</li>

[code]...

I want to basically do the following, 1) hide first li, 2) move the first hidden li after the last li (appendTo), 3) show the last hidden li, 4) then repeat (this in theory should give me a rotating slide)This is my code, where am I going wrong and how do I add the repeat? Basically the last statement of show is not happening, I assume I need to place it in a callback, however the previous line does not support a callback.

$(document).ready(function() {
var interval = 3500; //time between slides
$("#scrolleritems li:first").hide('slow', function () {

[code]....