Repetition is of interest to both psychoanalysis and poetry. In this paper, I read Shakespeare's first sonnet through a unique form of repetition -the rhyme. More specifically, and from a semiotic perspective, I read the rhyme in Shakespeare's sonnet as a sign uncovering unconscious conflicts concerning objects' relations. This interpretation locates banned masturbation, a major theme of the sonnet, within three resonating threads: the socio-cultural context, the psychological context of internal object relationships, and the context of poetic creativity.