Penetration Defined
Donna,
After the dealer shuffles, she offers the pack with a yellow (or sometimes red, depending on where you're playing) card on top for one of the players to cut. After the cut, the dealer takes all the cards on top of the yellow card and places them on the bottom of the pack. She then inserts the yellow card into the pack: this is what determines the penetration.
Usually penetration is expressed in one of three ways: (1) percentage, (2) decks in front of the cut card (usually for four or more deck games), or (3) decks behind the cut card (usually for single and double deck games). (1) For percentage, the penetration is defined as the percent of the entire pack that is dealt before the yellow card comes out. Thus, 75% penetration on a six-deck game means that the yellow card comes out just as the dealer deals the 0.75*6*52 = 234th card. (2) For decks in front of the cut card, the penetration is defined as the total number of decks dealt before the cut card appears. Thus, the above example would be termed a penetration of 4.5/6. (3) For decks behind the cut card, the penetration is listed as the number of decks remaining in the pack when the cut card appears. Thus, the above example has a penetration of 1.5. This last style is used in Current Blackjack News, available from this website.
Of course, you have no doubt figured out that these last two definitions of penetration conflict with one another. Thus, you have to use a bit of common sense when you read "penetration" values.
Hope this helps!
Dog Hand