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Both words have long been subverted to mean the opposite. Together they have a double opposite-negative power to express that something is extra cool and exciting.
"You wanna go see Bowie play live?"
"Yeah, wicked and bad!"

"Wanna go out for dinner on Tuesday?"
"Yeah, I'm free. Wicked and bad - see you then."
by Beliatilo November 15, 2004
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