What is "Smol"?
Rashi: The north.
Malbim: This refers to Hashem's conduct via nature.
What is the meaning of "ba'Asoso v'Lo Achaz"?
Rashi: When He created [the world], He did not make His Kisei in a place where I will see it. Achaz is the Targum of "Er'eh". We must say so, for the accent is on the penultimate syllable. If it were an expression of guarding, the accent would be on the last syllable.
Malbim: Early Chachamim said that the north is open 1 . There, the creation was not completed. He did not seal the north with a wall and covering.
Bava Basra 25a: The world is like a house with less than four walls.
What is the meaning of "Yatof Yamin"?
Rashi: He covered the south in front of Him, lest I see Him.
Malbim: Even though the north is open, I cannot see Him there, for He covered the south. All of this is a metaphor, that one cannot understand Hashem from any side. The right refers to His miraculous conduct. If one investigates natural conduct, the creation is not complete. The conduct seems improper - Tzadik v'Ra Lo, Rasha v'Tov Lo. On the right, the conduct is complete, but "v'Lo Yir'eh" - one sees only the natural conduct from the six days of creation, via the Ma'arachah. It is Tzalmaves, and not orders.
