I found this code and it is pretty much what I am looking for, except I need the first link to already be selected when the page loads.
function CngClass(obj) {
if (Lst) Lst.className=' ';
obj.className='selected';
Lst=obj;
}
<style type="text/css">
<!-- .selected { font: bold 18px Arial, Helvetica, sans-serif; color:#FF0000; } -->
</style>
<ul>
<li>
<a id="homelink" onclick="CngClass(this);" href="#">Test 1
</a>
</li>
<li>
<a onclick="CngClass(this);" href="#">Test 2
</a>
</li>
<li>
<a onclick="CngClass(this);" href="#">Test 3
</a>
</li>
</ul>
HTML
Javascript