Recommended Citation: Cain, Lauren E.; Robins, James M.; Lanoy, Emilie; Logan, Roger; Costagliola, Dominique; and Hernán, Miguel A. (2010) an approach for using observational data to emulate randomized clinical trials that compare dynamic regimes of the form "initiate treatment within a certain time period of some time-varying covariate first crossing a particular threshold." We applied this method to data from the French Hospital database on HIV (FHDH-ANRS CO4), an observational study of HIV-infected patients, in order to compare dynamic regimes of the form "initiate treatment within m months after the recorded CD4 cell count first drops below x cells/mm 3 " where x takes values from 200 to 500 in increments of 10 and m takes values 0 or 3. We describe the method in the context of this example and discuss some complications that arise in emulating a randomized experiment using observational data.