It seems like a mistake for "squeeze it", from the inflection of squeeze with the pronoun lo . But it turns out that it is used in some cases to graph a vulgar pronunciation where the tonic is forced into the enclitic when it is in an imperative and the final pronoun is omitted; Thus, instead of saying "squeeze him [him]" it is pronounced "squeeze"; Although it is not really very common in the voseo and is heard more in the tuteo (p . e.g. "squeezed" ) . See verbs/squeeze , verbs/squeeze .
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