The author considers how, when working with severely traumatised patients, times of despair can be transformed into moments of hope within the therapeutic process. She considers these moments from the perspective of ‘the supervisor’s chair’ and what emerges within the supervisory relationship when difficult and distressing sessions are openly and honestly bought to supervision. Drawing on Thomas Ogden’s ideas about ‘dreaming up the patient’ in supervision, and Michael Parsons’ thoughts about the supervisory relationship, she gives two examples of this process in action, the first about the transformation of despair to hope in the consulting room, and the second about the transformation of despair to hope in the professional network. She argues that these transformational moments of hope correspond to what Daniel Stern and his colleagues have described as ‘moments-of-meeting’ and are indicative of a potential turning point in the therapy. These fleeting moments need to be attended to and nurtured so that their potential for change and emotional growth and recovery can be harnessed.