Yep, that's pretty much what I would say too.
To elaborate a little:
A "dry hit" has an unmistakeable "flavor": over-heated metal plus over-burnt juice... YUCKKKKKK! You really can't mistake it for anything else, and you definitely know it when it happens. Basically, like Nymedjpain said, it happens because not enough juice reaches the coil. Maybe the wicks are not wicking fast enough, or there is too little juice left in the carto, or something is constricting the wicks so that the juice flow is impeded for some reason - this is the main reason people end up modding CE2s. In the old versions, this problem was pretty prevalent. In the newer versions, not so much. Usually, if it happens often, it either user error (not tilting enough, for instance), or the cup seal needs to be adjusted a little so as to give the wicks a bit more room.
A "wet hit"... Well, I haven't seen this particular term used all that much around here, but I suppose, like Nvmedjpain said, it's either flooding, or juice-in-the-mouth thing, or both. Flooding happens, logically enough, when too much juice ends up in the coil area. It doesn't all evaporate then, and part of it will flow into the air tube that's underneath the coil, and some of it will splat and spit and maybe, if your tip is small-ish, hit your mouth (it's hot, so that's not at all pleasant). The symptoms of flooding (the spitting doesn't really happen all that often) is gurgling, sharp decrease of vapor and probably flavor, juice may start leaking out of the bottom connector junction. Flooding may be the result of over-wicking - this actually does happen with some cartos, notably the Grandes and the Stones, since their wicks work extremely well and sometimes, if the carto is full, the coil can't keep up. The remedy is to blow out the air tube: put a napkin under the battery connection and blow hard into the mouthpiece. You'll see some liquid come out onto the napkin. Once or twice is usually sufficient. If this happens on regular basis with a particular carto, you should fill it a bit less, and that normally cures it.
If you get a lot of juice in the mouth, it's usually not juice, per se, but condensation. All CE2s get condensation on the top seal. Quite a lot of it. Whether or not you get it in your mouth depends on the physical configuration of the carto and a whole bunch of other things. It's kinda mysterious, actually - some folks have this problem all the time with particular cartos, and some not at all. I honestly don't remember the last time it happened to me, on any of them... How one vapes is probably a big factor. To prevent this, you just need to take off the tip once in a while, and dab the top of the seal gently with a napkin to absorb the condensate - assuming you are getting this problem. I don't bother.
A dry hit would taste burnt, no juice or not enough juice to the wick or coil. At the other end it could flood and then you get a nice mouth full of juice.
Sent from my PC36100 using Tapatalk 2