Most of today's dynamic analysis approaches are based on method traces. However, in the case of object-orientation understanding program execution by analyzing method traces is complicated because the behavior of a program depends on the sharing and the transfer of object references (aliasing). We argue that trace-based dynamic analysis is at a too low level of abstraction for object-oriented systems. We propose a new approach that captures the life cycle of objects by explicitly taking into account object aliasing and how aliases propagate during the execution of the program. In this paper, we present in detail our new meta-model and discuss future tracks opened by it.