The passage in Isaiah regarding the day-star, or Lucifer (A.V.), is believed by many to refer to the fall from heaven of angels who had sinned against God; Lucifer, their leader, is supposed to be Satan. In so far as the outer is concerned, this is a mistake; the text has no such inference. It refers to the fall of the king of Babylon, who had ruled in such brilliance and greatness, in such pomp and splendor, that Isaiah likened him to the morning star (Isa. 14:12; II Pet. 1:19).
Meta. The text in Isaiah, "O day-star, son of the morning!" signifies man's uplifting of the ruling ego of the sense consciousness (represented here by the king of Babylon), and attributing to the outer sense man those qualities of light, understanding, and greatness that belong to God only. This is adverse, of course, and it comes under the Satanic phase of thought in the individual; it must be overthrown, cast down and out of consciousness. Metaphysically interpreted, therefore, this text in Isaiah does refer to Satan, to his self-exaltation and downfall. (See SATAN.)
In II Peter 1:19, "day-star" is symbolical of the Christ light's springing up in individual consciousness. The Christ mind is the true source of understanding, power, and all good; glory should be attributed to God only.