Adding another div to the Eamon Nerbonne's solution, gave me the following solution:
jsFiddle 
Basically the solution is, if you add another parent div that controls the flow of the secondary div might give you a go.
<div class="first">
    <div class="second">
        <table>
            <tr><td class="headcol">1</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">2</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">3</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">4</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">5</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">6</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">7</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">8</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
            <tr><td class="headcol">9</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td><td class="long">QWERTYUIOPASDFGHJKLZXCVBNM</td></tr>
        </table>
    </div>
</div>
I added style for the outer div like this:
div.first {
    width: auto;
    overflow-y: scroll;
    overflow-x: hidden;
    height: 150px;     /* this is the height that you expect to contain */      
    padding-bottom: 1px;
    position: absolute;
    left:0;
    top:auto;
}