More tag, single post pages not working

I’m trying to set up the Platform theme from Pagelines on a new site. When I first installed, blog posts appeared automatically on the home page (without my having set that somewhere), but when I’d click to “read more” I’d get a 404 error page.

I tried adding a page, changing the “front page displays” in settings–>reading to static with “posts page” set as a new page called Home. Now, the “read more” link just refreshes the home page.

Either way, it looks like single page posts aren’t working at all–I can’t access them. And, needless to say, I’ve got tons of text in the posts draft page, and have inserted the “read more” tags in the text there before publishing.

What’s going wrong?