Basically, you know how in Magic Loop, you pull the cable out between the middle of the stitches, then you pull the right needle out of the stitches? So it makes two loops? In Halfaloop (hee hee), you leave the stitches where they are, but pull the right needle out anyway. Start knitting off of the left needle. The right needle cable will make the one single loop. You will have to stop occasionally to move the stitches off the right needle onto the main cable, so you have to have a flexible cable to do this.
The stitches stay on one bigger loop in your normal circular needle ring.
Does that help?