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Meaning of in-and-out

in-and-out

Pronunciation: (in'und-out', -un-), [key]
— adj.
  1. in or participating in a particular job, investment, etc., for a short time and then out, esp. after realizing a quick profit.
—n.
  1. an obstacle consisting of two fences placed too far apart to be cleared in one jump and too close together to allow more than one or two strides between.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.