Here is some text before a floated image. This text is after the float. Of course, 'before' and 'after' refer to the order in the html. The small ghostly copy of the floated image is inline (not floated) and simply indicates where, in the HTML, it 'floated from'.

<p>Here is some text before a floated image.<img style="float:left;" src="float.jpg" alt=""> <img src="float_pale.jpg" alt=""> This text is <em>after</em> the float ... </p>