General Book of the Tarot, by A. E. Thierens, [1930], at sacred-texts.com
TRADITION: Thought, soul, spirit, intelligence, idea, memory, imagination, conception, meditation, contemplation, reflexion, deliberation, views, opinion. Reversed: Project, intention, desire, wish, resolution, premeditation. Another version has: "Fairy favours . . . things seen in the glass of contemplation; some attainment in these degrees but nothing permanent or substantial is suggested." (W.)
THEORY: If we eliminate 'soul . . . spirit . . . and desire,' words too far apart from the original meaning, we find in tradition a very pure rendering of the effects of the Water of the soul on the house of Gemini, the Third, the house of the changeful concrete mind and thought in which indeed nothing is permanent, and everything is passing, ephemeral. These effects must be very varied, including the most fantastic plans and conceptions, and 'fancy' is the most fitting word for this card. It will denote many intellectual proceedings and has to do with travelling for short distances, sight-seeing, considering, gathering impressions, etc. The word 'reflexion' is really quite appropriate in its place here, because the card represents the conditions of mind in which the surroundings are simply reflected in the soul. There may come seductive and suggestive images, some of which may be realised, but others will remain just fancy. The description which is given by W. is very accurate and points to the fact, that under the third house come nature-spirits and genii, who will eventually help, guide or mislead man.
CONCLUSION: Thoughts, intelligence, ideas, imagination, plans, suggestions, fancy, fantasy; reflexions and opinions, deliberations and intentions. Much in this card will not come into physical reality. Short travels, sight-seeing, impressions, views. Changefulness, unstable conditions. Promise and surprise, but always much more promise than fulfilment. 'Fairy favours.'