Not sure if I'm getting your question, but this is what the edge loop does:
When you applied a edit mesh (or converted a object to a editable poly), you go into sub-object level "edge" (shortkey: 2). When you select a edge and press the "loop" button in the selection rollout, it selects all the edges that are are exactly aligned with the edge you selected.
Let me make a couple of screenshots... Be right back :+
Ok, I guess this is about what your question was about?
First convert your object to editable poly (or add an edit poly modifier)
Than go into edge mode and select 1 edge
Press the loop button and all the edges will be selected that share one line with the original. See screenshot for a better understanding