The Hebrew approach to hermeneutics (the theories of interpretation) views four levels of interpretation: 1) Peshat, the literal, direct meaning; 2) Remez, an allegorical significance; a hint of something deeper; 3) Derash, the homiletical, or practical application; and 4) Sod, the mystical or hidden meaning.
http://www.khouse.org/articles/2005/614/