Completely bored from watching too much television and video
I'm 'watched out'; I don't watch T.V or video any more!
This is code word in the homosexual underground metal community for "I can suck a mean cock".
Many people in the heavy metal underground scene use this phrase to discreetly pick up on homosexuals. The reason for the discretion is that being gay is typically frowned upon amongst the Heavy Metal community. So if you are trying to pick up a gay dude publically and don't want people to know that you are a cock craving butt lover, just tell them "I can watch the fuck out of a movie". Those that are "in the know" in the heavy metal community will quickly accept the offer and allow you to suck his cock since he will now know that you can suck a mean cock.
So I was at a straight bar and ran into a gay dude, I told him "I can watch the fuck out of a movie"....... 2hrs later, I was sucking his cock.
"Hey, how do I let a fag know that I can suck a mean cock?". "Tell them You can watch the fuck out of a movie", that is code for "I can suck a mean cock".
A vague warning that could mean anything, with a variety of usages, such as frightening people, alarming people and actually giving caution.
Thog: *Standing on road, with a truck coming from behind*
John: Watch out for the moles!
Thog: Thog don't caare.