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2.
Masurbating
MSY-ing it
Yankin' the chain
Yankin' it
What are you doing?
Jerking it.
Cool
by A.A.A. June 13, 2006
 
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