I am really squeezing my head to make the simple fade in and fade out of the background image work only with javascript without JQuery and CSS3. I know how easy is to call a
I'll point you off in the right direction and leave the rest of the coding to you.
This is how the setInterval() function works. It takes a function to execute and then the milliseconds it should run for.
setInterval(function() {
if(fade(element[0]))
clearInterval();
}, 50);
I made a JS fiddle for you here It's semicomplete but shows off how you should go about making your fadeout/fadein. This is tested in Chrome on a Mac. Not sure about FF nor IE unfortunately.
Also as several pointed out, when getting stuff by any function that ends with s you can be 100% sure that it gives you an array with elements and thus you have to refer to the element you want as such. In your case its element[0].
Hope I help you further a little ways! :) Good luck!