a normal magic loop is sort of like a bow tie, (with the stitches in the middle)
when making a hat (or as i doing, *knitting an 80 stitch scarf in the round)
you can do a half magic loop,
i slide the stitches to the tip of 'left needle'.
i pull the right needle (there isn' enough 'cable' on my circ to make a loop on the left side, just on right side) and i start knitting.
by mid point in the round, the loop is opposite the working tips, by the end of the row, the loop is at the left.
its a bit awkward (for me, round after round, but i manage) but it gets less awkward with each decrease in a hat.
asl will all magic loop, its easier to do wht a 29 or 32 inch needle than with a 16 inch one.