Is this possible?

Read about the_excerpt.

Brittanie, cool thanks! I’ll give that a try!

Actually, the_excerpt will NOT give you a “read more…” link – the link to the full post will be the title.
However, if you want to control it manually, whenever you write a post you can insert this: <!--more--> where you want to break the text and it will create a “more…” link.

I used the <!–more–> and it worked great. Thanks!