Jake: "Hey dude, why were you staring at tracy?"
Brad: "What do you mean?"
Jake: "Ever since you and Brenda broke up, you've been acting different."
Brad: "No, I have not. It's just your imagination."
Jake: "Someone has a case of the Itchy Dick."
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).