Yes you will get CHESS statements & more paperwork in your mailbox than you could poke a stick at as a daytrader.
When you see people using the term "wazza", "warwick", "capper" etc it's like MF said, it's a humorous way of referring to when a stock price seems to be getting "capped" or controlled to stay at or near a certain price, presumably so that the big players doing the capping can accumulate stocks.
You can usually find explanations of these kinds of things by googling or using sites like investopedia which are a great resource when you are trying to understand all the lingo.
