I've decided to test my hypothesis over christmas break . I'm trying to find some kind of soluble magnetic compound. On my list are- - homemade ferrofluid (which is magnetic, but I'm not sure how well I will be able to place it in a suspension) - powdered magnetite - any suggestions?.. Essentially I need some kind of magnetic salt which would dissolve in solution of water or ethanol or some other easy to obtain solvent. I'm thinking of using this recipe for my ferrofluid - http://chemistry.about.com/od/demonstrationsexperiments/ss/liquidmagnet_2.htm I'm going to play with the intermediate - magnetite to see whether or not it will make a suspension. If not, I will take the ferrofluid and add additional surfactant to see if it will work as a solvent without the solvated magnetite settling out.