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In this paper, two clinical sequences are presented in an effort to describe the methods by which the analyst attempts to recognise, understand and verbally symbolise for himself and the analysand the specific nature of the moment-to-moment interplay of the analyst's subjective experience, the subjective experience of the analysand and the intersubjectively-generated experience of the analytic pair (the experience of the analytic third). The first clinical discussion describes how the intersubjective experience created by the analytic pair becomes accessible to the analyst in part through the analyst's experience of 'his own' reveries, forms of mental activity that often appear to be nothing more than narcissistic self-absorption, distractedness, compulsive rumination, daydreaming and the like. A second clinical account focuses on an instance in which the analyst's somatic delusion, in conjunction with the analysand's sensory experiences and body-related fantasies, served as a principal medium through which the analyst experienced and came to understand the meaning of the leading anxieties that were being (intersubjectively) generated.