this is very close to what you need...up to you to make it work the way you want
var i = 100;
var j = 1;
loadmovie("image" + j + ".jpg",clip);
fadeclip = setInterval(fade, 100);
function fade() {
i --;
clip._alpha = i;
if (i<=0) {
clip._alpha = 0;
clearInterval(fadeclip);
j ++;
loadmovie("image" + j + ".jpg",clip);
showclip = setInterval(fadeIn, 100)
}
}
function fadeIn(){
i ++;
clip._alpha = i;
if (i >=100){
clip._alpha = 100;
j ++;
loadmovie("image" + j + ".jpg",clip);
clearInterval(showclip);
if (j<4){
fadeclip = setInterval(fade, 100);
}else{
j = 0;
fadeclip = setInterval(fade, 100);
}
}
}