On next row (RS), k 34 (40, 45, 49, 53, 59, 63) sts, place next 49 (53, 57, 63, 68, 74, 78) sts for left sleeve on scrap yarn, CO 1 (1, 1, 2, 3, 3, 4) st(s), pm…
Do I have to use scrap yarn? Can I use stitch holders? Thanks! Linda
Sure you can … the idea is that you’re setting those stitches aside to be worked later on. Some patterns will say to place the stitches on a holder, others will say to place them on scrap yarn … it’s usually just based on the pattern writer’s habits (not everyone buys stitch holders, since all knitters have lots of scraps laying around anyways). Use whatever method you prefer! 
I don’t recommend stitch holders. They are too stiff and the yarn gets stretched at the edges. When you’re knitting a sweater in the round you’ll be joining the underarms and so you need something flexible.
Thread a smooth, thinner gauge yarn on a yarn needle and thread it through the the stitches on the needle. I often use leftover sock yarn or cotton crochet thread. Make sure it’s long enough not to pull out of the stitches. I usually tie a loose knot.
Thank you ladies!
If you have other circulars, you can use them instead of yarn or holders. Even though the large safety pin type holders aren’t flexible, you can still use them, let the sts curve around the bottom end so the sleeve sts will fold up a little.