compatibility with jquery 1.6.2 version

compatibility with jquery 1.6.2 version

Hi,

I've created a menu..the problem is that the code works only with jquery 1.4 minified version and not with jquery 1.6.2 or other version. I don't understand why. 
The code is:

$(document).ready(function(){
$('<div id="navigation_blob"></div>').css ({
width: $('#navigation li:first a').width() + 10,
height: $('#navigation li:first a').height() + 10
}).appendTo('#navigation').hide();
$('#navigation a').hover(function(){
$('#navigation_blob').animate({
width: $(this).width() + 10, left: $(this).position().left},
{duration: 'slow', easing: 'easeOutElastic', queue: false}
);
}, function(){
$('navigation_blob')
.stop(true)
.animate({
width: 'hide' },
{duration: 'slow', easing: 'easeOutCirc', queue: false}
)
.animate(
{left: $('#navigation li:first a').position().left}, 'fast');
});
});

Thank you.

Valentina