a) The place inside an airship or boat where goods are stored.
b) If you don't know what a cargo cult is, you probably misheard it as cargo hold, causing you to look up a definition.
Flight attendant: Hey, fox wizard, we'llpay you to defend the cargo hold in the back of the zeppelin.
Fox wizard: Sure. It's not like I have anything else to be doing back here.
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.