The second part offers a micro-analysis of I think, the prototypical stance marker, in its sequential and activity contexts. Adopting the methodology of conversation analysis and paying serious attention to the manifold prosodic cues attendant in the speakers utterances, the study offers novel situated interpretations of I think. The author also argues for intonation units as a unit of social interaction and makes observations about the grammaticization patterns of the most frequent epistemic markers, notably the status of I think as a discourse marker.