Rejection points: the number of rejections you have received, since whenever you start counting from. (I think I got that from bmlg.) Rejection points don't count (for me at least) if you really want to be rejected -- they only count if they're from markets you would be happy to be published in and content to be rejected by.
As of yesterday, I consider both counts to be set to zero.
As of right now, I have a slush count of two. Go, me.
Current goal: slush count + rejection points >= 10 by VP this year. If this turns out to be way too easy a goal, I'll adjust upwards.
I should probably write something else.