Red hot.

1. Recently stolen; hence, easily identifiable. 2. Actively sought by police. 3. Teeming with police activity. 4. (Prison) Characterized by a tense atmosphere, as a result of an escape, riot, general search, or similar serious occurence. 5. In a state of intense readiness or preparation, as for the commission of a crime; working with abnormal skill or intensity.

Dictionary of American Underworld Lingo, Hyman E. Goldin, Editor in Chief, 1950.

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