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1.
Another term for "doing alright", or "doing well", usually in relation to general small-talk. This slang is often used in New Jersey and surrounding areas. See example:
Ted: Oh, how's it going, man? How are you doing?
Alfonso: Oh, you know, man; Just jerking it.

Ted: Yeah, yeah, me too.
by thewanderingjew22 August 12, 2011
 
2.
Masurbating
MSY-ing it
Yankin' the chain
Yankin' it
What are you doing?
Jerking it.
Cool
by A.A.A. June 13, 2006