The above definition is correct, except for 3 omissions.
1. The word can be used to describe the act of breaking a bad streak in either baseball or the singles game.
2. Mark Grace made the phrase famous, because he would normally hit in the high 200s, but would sometimes go on a really nasty 0 for 25 kind of slump, and because he supposedly coined another synonym for slumpbusting, "taking the wood to a fatty."
3. Because he made these two phrases famous, a 3rd synonym became used within baseball, and now pop culture, to pull a "Mark Grace", also meaning to break a slump by boning an ugly or fat chick.
Player 1: Man, Ramirez hasn't gotten laid in 3 weeks. And hasn't been on base in 5.
Player 2: Yeah he definitely needs to go to a bar tonight, find a swamp donkey and pull a Mark Grace.
Rookie: What's a Mark Grace?
Player 1: Slumpbusting
Rookie: Slump Busting?
Player 2: Slumpbusting, jackass. Taking the wood to a fatty.
When you havent gotten laid in forever, and you wind up taking home the first piece of ass you can. (Can be on purpose or by accident)
"Dude, i havent gotten laid in forever, wanna go slump busting with me tonite?"