When someone thinks that other don't notice what they do.
EX1:
Ben looks at Sally's ass too much.
Margie, Ben's girlfriend, notices.
Margie then confronts Ben and says, "You think you're low."
EX2:
Ben, Margie and Sally are all out for some fun with a group of other people. Margie, Ben's girlfriend, notices that Ben is looking at Sally too much. Or, Sally is looking at Ben too much. Margie now thinks that Ben swear he's low.
EX3:
Margie and Ben are in a car driving to some place.
They stop at a red light where there is a girl on the corner with shorts, bent over tieing her shoes.
Margie notices the girl, and also notices that Ben looks at her, looks away, then looks at her again, then proceeds to drive.
Margie now thinks that Ben thinks he is low.
Moral of this phrase:
You are not low.
*This goes for females aswell.