Had some people asking me about a couple things. Should I use flame shock? earth shock? The answer to both is no, but relax, I will explain my answer with math, instead of arguing on the basis of authority (yay science!). First of all, it is important to consider that Shocks have a shorter range than LB/CL. Also, Lightning Overload affects LB and CL, but not shocks. LO basically adds about 10% to your damage - nothing to scoff at.

Player info:

900 spell damage
22% spell crit (35% nature crit, 30% fire crit)
99% spell hit
0% haste (won't matter too much, but any haste will be in favor of LB over shocks)
Chaotic Skyfire Diamond
Relic: Totem of the Void

Earth shock:

42.86% coefficient
mana cost = 535*.9=482
658-692 base damage
(675+.4286*900)*1.05=1114
crit normalized=(1114*2.09*.35)+(1114*.65)=1539
hit normalized=1539*.99=1524
DPS=1524/1.5=1016
DPM=2.11

Flame Shock (initial):

15% coefficient
mana cost = 500*.9=450
377 base damage
(377+.15*900)*1.05=538
crit normalized=(538*2.09*.30)+(538*.70)=714

Flame Shock (dot):

52% coefficient
420 base damage
(420+.52*900)*1.05=932

Flame Shock (total):

hit normalized (binary)=(714+932)*.99=1630
DPS=1087
DPM=2.42

Lightning Bolt:

79.4% coefficient
mana cost = 300*.9=270
551-652 base damage
(602+.794*955)*1.05=1428
crit normalized=(1428*2.09*.35)+(1428*.65)=1973
lo normalized = 1973*1.1=2170
hit normalized=2149
DPS=1074
DPM=7.96

With this spell damage, LB is just slightly under Flame Shock, but the damage per mana is WAY better. Hugely better. And actually, with just a bit more spell damage, LB will do more damage too. Past T4 at least, you will probably have over 1k spell damage fully buffed. Also keep in mind that the crit chance on flame shock is lower (not affected by Tidal Mastery), meaning less up time for elemental focus.

The max damage rotation on a single target is going to be 3:1

CL, LB, LB, LB

There are two caveats with this. 1, this is extremely mana intensive - depending on your mana situation, don't use CL as much - and yes, CL is still more damage than LB on a single target. It has a higher base damage, only slightly lower spell damage coefficient, and is .5 seconds faster.

Secondly, CL has a 6 second cooldown that begins when you complete the cast. In those six seconds, you can get off exactly 3 unhasted LBs. Any amount of haste will either force you to go to a 4:1 rotation, or keep the same rotation and wait - effectively nullifying haste. It is mostly a moot point as you will not likely be able to maintain this cast sequence for extended periods of time. In either case, EJ does have a graph for this: http://elitistjerks.com/f47/t20914-shaman_elemental/