Porteño Spanish is the dialect of caste-sha-no (castellano) spoken in Buenos Aires, Argentina and the surrounding areas. It is categorized by an Italian-like pronunciation and colorful Lunfardo slang.

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Palo

money; erection; suit

"Palo" which literally means "stick" has various meanings in Argentina.

"Un palo" in man contexts refers to money, either "one million" or just "one". "Ese politico robó un palo" (That politician stole a million dollars). "Prestáme dos palos" (Lend me two dollars).

"Estar al palo" literally means "to be to the stick". This has the connotation of "full force" or "having an erection". It is not hard to imagine how these came have this slang meaning.

"Ni al palo" however is not the opposite, but rather means "not even beaten with a stick". "No quiero hacerlo, ni al palo" (I don't want to do it, not even if I'm beaten with a stick").

"Estar del mismo palo" means to be of the same suit in a deck of cards. It is also has the connotation of being like a group of people, usually in a bad way. "Sos del mismo palo que tus amigos" (You're just like your friends).

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