the term which is an anagram widely used on the internet, specifically on message boards, is a way to say 'holy shit' without actually cursing. Typically filters weed out words deemed inappropriate, and posts left by readers don't get approved. Using terms like 'hoshy lit' bypass filters and allow the comments to be posted.
Hoshy lit! That bitch Palin is out of her mind!
by Son of Bob September 17, 2008