BellaOnline Forums Hobbies and Crafts Knitting confusing pattern

I'm working on a sweater, and I'm confused by the directions for the shoulder shaping. At the point I'm confused on, the pattern calls for 77 stitches. It says to knit 69 stitches then just says slip, wrap, turn (SWT). It repeats these directions for several rows decreasing 8 stitches in each row. I'm not quite sure what it means to slip. Am I supposed to slip all eight stitches onto a stitch holder? Do I slip them onto the needle I'm working on and wrap the yarn around them? What happens to these 8 stitches if I'm not binding them off? the directions are not real clear. Can you help?

It's short row shaping Which means that your sweater should come out with a really great fit.

You are, in effect, knitting only a portion of each row. The 8 extra stitches will stay on your needles until you get to the end when they will be bound off with the rest of the sts.

Here's what it means:
Slip 1 st to the right needle. Bring the yarn to the front of the work as if to P. Now, slide the slipped st back to the left needle. Move the yarn to the back of the work so it's in position as if to K the next st. Now, turn the work around and work the next row. The working strand of yarn wraps around the slipped stitch. When you turn the work, you will have unworked sts remaining on the left hand needle.

So SWT:
Slip 1 st, yarn forward.
Slip the slipped st back to the left needle, yarn back.
Turn the work.