נַפְשִׁי אוֹרִיכָא לַיָי מִן נָטְרֵי מַטְרַת לְצַפְרָא דְנָטְרִין לִקְרָבָא קוּרְבָּן צַפְרָא.
1. My soul yearns for Adonai | נַפְשִׁי לַאדֹנָי – More literally: "My soul is for Adonai", but see Radak that the word "yearns" is assumed, or Ibn Ezra that the word "hopes" from the previous verse should be applied here.
2. more than those who watch | מִשֹּׁמְרִים – See Ibn Ezra that the opening "מ" of the word "מִשֹּׁמְרִים" signifies comparison, meaning: "more than". The psalmist waits for Hashem even more than night time guards wait and watch for dawn. Cf. Rashi and Radak, who translate the "מ" as: "among", understanding the "watchmen" to refer to those people who yearn for morning, metaphoric for redemption (Rashi), or those who wake up early to pray to God (Radak). The psalmist declares himself among this group.
3. watch for morning | שֹׁמְרִים לַבֹּקֶר – See Hoil Moshe that in this phrase, "שֹׁמְרִים" is a verb, while in the initial phrase it serves as a verbal noun. Cf. Rashi, Ibn Ezra, and Radak that the doubling is for emphasis or to show that this yearning is a continuous action, done again and again.