Can't say from what you have just written.
I Would be interested to see more on: myCallBack, fetchvalues.php and ReadCookie
Certainly, start by making the JavaScript unobtrusive, and moving the click binding to the document ready function.
$(document).ready(function(){
$("#edit").click(function(){
$.get('fetchvalues.php', function(){
myCallBack(ReadCookie('UpdateRecordID'));
});
});
});
Another problem. If you're wanting to pass data, then data is the second parameter on the get function. See the documentation here:
http://docs.jquery.com/Ajax/jQuery.get#urldatacallbacktype
So, your function might be something like:
$.get('fetchvalues.php', ReadCookie('UpdateRecordID'), myCallBack);
(p.s. check out the following for the click binding: http://docs.jquery.com/Events/click)