• WordNet 3.6
    • v whipsaw saw with a whipsaw
    • v whipsaw victimize, especially in gambling or negotiations
    • n whipsaw a saw with handles at both ends; intended for use by two people
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Webster's Revised Unabridged Dictionary
    • Whipsaw A kind of narrow ripsaw, tapering from butt to point, with hook teeth and averaging from 5 to 71/2 feet in length, used by one or two men.
    • Whipsaw A saw for dividing timber lengthwise, usually set in a frame, and worked by two persons; also, a fret saw.
    • Whipsaw (Finance) to cause to suffer a series of losses in trading when buying and selling at the wrong times in a rapidly fluctuating market; -- especially used when an attempt is made, by selling short, to recover losses from a long purchase in a declining market, and the short sale also results in a loss when the market subsequently rises. Used mostly in the passive; as, to be whipsawed by exaggerated responses to a changing outlook.
    • Whipsaw to cause to suffer a setback or losses by subjecting to two forces at the same time or in rapid succession; as, consumers were whipsawed by both inflation and higher sales taxes.
    • Whipsaw To defeat in, or cause to lose, two different bets at the same turn or in one play, as a player at faro who has made two bets at the same time, one that a card will lose and another that a different card will win; hence, to defeat in spite of every effort.
    • Whipsaw To saw with the whipsaw.
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Century Dictionary and Cyclopedia
    • whipsaw Hence, to beat, defeat, or cause to fail in two opposite ways at the same time. See the extract.
    • n whipsaw A frame-saw with a narrow blade, used to cut curved kerfs. See cut under saw.
    • whipsaw To cut with a whip-saw.
    • whipsaw To have or take the advantage of (an adversary), whatever he does or may be able to do; particularly, in gamblers' slang, to win at faro, at one turn (two bets made by the same person, one of which is played open, the other being coppered); beat (a player) in two ways at once.
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In literature:

They've got us whipsawed.
"The Valley of the Moon" by Jack London
Then the Indian brings over a whipsaw from the cabin at Surprise Lake and makes lumber enough for the box.
"Lost Face" by Jack London
The boards we used in the building had to be sawed by us two slaves with a whipsaw.
"Biography of a Slave" by Charles Thompson
And I think he's going to whipsaw the market to a standstill this time, for sure.
"The Spenders" by Harry Leon Wilson
The Astute Reader knows what happens in a Family when Mother and the Only Child put their Heads together to whipsaw the Producer.
"More Fables" by George Ade
So you see I was whipsawed.
"David Lockwin--The People's Idol" by John McGovern
The planks were made with whipsaws and water-mills.
"Slave Narratives: a Folk History of Slavery in the United States From Interviews with Former Slaves" by Work Projects Administration
It seemed to her that the hard, whipsawed planks were pushing through the soft flesh to the bones.
"The Yukon Trail" by William MacLeod Raine
They expected later to whipsaw lumber for the floors.
"The Fighting Edge" by William MacLeod Raine
He can work in at the funeral, too, an' make it a whipsaw.
"Faro Nell and Her Friends" by Alfred Henry Lewis

In news:

And it is perhaps most instructive to view their whipsaw wizardry around reconveyance as mode and method to rally the footsoldiers and keep them in line through the 2013 elections.
The way the movie Kick-Ass should have been, or Watchmen could have been, James Gunn's Super is a hilarious and deliberately unsettling polemic whose tonal whipsawing has been flummoxing a good number of critics.
Renter whipsawed by landlord finds new home.
The Whipsaws' front man and local cellist collaborate as Evan & Molly.
Blue Maiden beat Whipsaw City by a half-length on Thursday in the $80,750 Glowing Honor Stakes for fillies and mares at Belmont Park.
The Whipsaws' front man and local cellist collaborate as Evan & Molly .
Using options spreads to avoid getting bitten in the whipsaw markets typical in the dog days of summer.
Those forces have whipsawed pharmacy retailers in recent months, and Walgreens, it turns out, is no exception.
Listeners get whipsawed from romance to comedy to poignant loss.