Definition
I am aware of what is going on; I know what is happening.
How People Actually Use It
A phrase that was created by that god awful film Daredevil, however this has now been a source of amusement for 10's of people all over the world. Can also be used for other actions... not neccessarily missing.. i.e (I NEVER READ CALL NOTES!)
"Jamie: Jim there must be something that you will never ever do? Jim: There is one thing... but I don't know if I should let you. Jamie: What is it? Jim: I... I... I NEVER MISS!"
Source: Urban Dictionary