How can I fix the position of the bubble

[salvador-dali]

Is there a way to fix a position of the bubble (where I can select Bold, Italic, and other things) and to put it just above the text.

The best way is to demonstrate it with tinyMCE. Something like this? http://www.tinymce.com/tryit/inline.php

[raphaelcruzeiro]

This is not possible with jQuery Notebook and there's a discussion on whether or not this feature will be implemented in the future. If you want a nice WYSIWYG with a static command panel, I highly recommend scrible.