In this paper I examine the value and contra-indications of interpreting. I point out the specific danger of interpreting when patients suffer from a weak ego as is the case in narcissistic personality disorder and borderline psychosis. I highlight the danger of premature interpretations of the shadow. Reference is made to the analyst's counter-resistance to interpreting and to his interpreting being motivated by his psychopathology. The paper contains clinical material to illustrate these views.