The act of furiously masturbating specifically to poorly photoshopped images of Jet, the sexy star of the 1990's British show Gladiators.
When we knocked on Mike's door to see if he would like to join us on a trip to the localpub, all we heard was a panicked shuffling of sand and a muffled yell of "Go away! I'm Jetbaiting!"
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.