While the theme you are currently using does not allow for exactly what you are asking to do (I don't really know of any that do), you can certainly only display a snippet of each post instead of the whole thing.
In each post, simply find the place you want to add a 'continue reading' link. Once you find that place, click on the 'text' tab in the upper right hand of the post. This presents the post with all the code. Don't be scared of the code, it is a really simple change.
Find the place you want to end the snippet and insert the following code:
This will cause all content below to not be displayed on the main page and there will simply be a 'continue reading' link for the visitor to click on.
You will need to do this for each post, past, present and future. It does look very nice and you will be able to see more of your posts at once so the visitor can click on the one they want.
Experiment a bit to find the best place to enter the code. If you start your post with an image and enter the code right after it, no text will display on the 'blog' page. They will still be ordered newest to oldest and in a single line from top to bottom, but you may want to see if that is something that works for you.
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