A common misconception is that the vertical "stacking" order of objects in Flash is determined by which layer the object is in. The objects in the bottom layer will always be below an object near a higher layer. If you are one of those who believes in that myth, your whole perception of what is real and what is imaginary is going to change. It is possible to adjust the stacking order of objects in Flash.
This is a companion discussion topic for the original entry at http://www.kirupa.com/developer/actionscript/swapdepth.htm