Well, last night I started the Scarflet project (it's from the Loom Knitting Primer, a book I highly recommend). It uses the stockinette stitch for the long loom (a stitch that I'm pretty sure you cannot duplicate on needles). As you can see it's a very tight weave.
For materials, I'm using Bernat Solo "Tomato" which unfortunately is discontinued. I'm using the pink knifty knitter loom.
I've never actually done this stitch before, but, so far, I like it.
How to do the stitch:
1. Make a slip knot and put it on the peg.
2. Using a zigzag pattern and skipping every other peg, wind the yarn across the loom as shown. The yarn will not be twisted at all.
3. Turn the corner. You are still going on the outsides of the pegs.
4. Continue going back in the same zigzag manner. You will use all the empty pegs you didn't get the first time.
5. This is IMPORTANT: You need to put a piece of yarn across the pattern you just made. It is EXTREMELY IMPORTANT. First, it's going to help when binding off. Second, the last two pegs on the right will not form a proper stitch without it (I know because I didn't use it at first and they didn't work properly and I had to start all over---so SPARE YOURSELF).
6. Wrap the second row just like you did for the cast on row. You will start at the upper left hand peg which is the same one that you have the slip knot on.
8. Repeat wrapping in the same manner. I'll have to put binding off in another post.