Watch? That would imply looking at the situation, so no I don't think that's quite the right word...

For one side it's more like "stand back and stand by", if you catch my drift, while for the other it's somewhat like claiming every four years to always have a ready supply of hot sauce stored in one's purse. (you see, a "purse" is a bag that we poors, specifically women, use to carry things - basically it's a nonmoving car where your butler puts all the "things" that you need for the entire day, except you are your own butler, and the purse doesn't drive to anywhere, and it gets heavy!)