any suitable material such as wood or plastic the knitting needle 24 contains material capable of being attracted by a magnet such as steel magnets 18 are fixed to the magnet housing 20 sufficiently proximate to the channel 22 so as to hold the knitting needle 24 in the channel 22 the magnets 18 may be permanent magnets or an electrical device which generates a magnetic field by means of a circulating electrical current provided by means of an electrical wire 23 as shown in fig4 in one embodiment shown in fig2 the magnets 18 are embedded in the bottom of the channel 22 the mounting 14 comprises a mounting device attached to a fixable rotatable swivel the mounting device may be any suitable mounting device in one embodiment shown in fig1 the mounting device is a c clamp 28 in one embodiment shown in fig1 the fixable rotatable swivel comprises a ball joint 30 and a ball joint clamp 32 the ball joint 30 has a stem 34 which is connected to the knitting needle holder 12 in one embodiment the yarn tensioning device 16 is attached to the magnet housing 20 in a preferred embodiment the yarn tensioning device 16 comprises a substantially rectangular plate having a plurality of notches 19 along one side with a plurality of proximate members 16 a defined by the.