A term said when watching an event of destruction that could harm you or others take place. Such as a car crash or Jaws swimming toward you. Usually is said before one turns 180 degrees and runs like hell Is pronounced faster than "oh shit."
Shawn> "Were you that guy making out with Casey in the school parking lot today?"
Jacob> "Yah she's totally into me. I'll be done with her in a couple of weeks then you can have a turn."