Analysts find themselves suspended between a “reality” with which they must dispense and for which they must constantly mourn and the fiction of transformations in dreaming that constitute the cornerstone of analytic work, whose legitimate denizens are pictograms, waking dream thought, and night dreams. Lies too have a particular status, because they form part of the subjectivization of “O” (ultimate reality), which remains unknowable. The author describes these operations (such as alphabetization of a symptom or fact, the casting of characters, and reveries), which are in effect shuttles between the complex worlds of reality and fiction. A number of clinical examples are presented to illustrate these concepts.