I recently have been browsing through some of my machine manuals and found these references on methods for executing simple intarsia patterns, the type I usually associate with holding hand techniques. The knit carriage is used, and the yarn is placed on the floor in front of the machine rather than fed through the yarn mast. These illustrations are from the 892 punchcard manual, the same capability was built into the Knitking 893, and Brother 930-940 electronic models. 
The related positions on the 892 carriages: 
If the setting has not been used for long periods of time, the holding cam lever may not move to the desired position. LPS1 platinum-grade spray can be used successfully on stuck buttons and was used on my carriage. It will take a little while for the full release, do not overspray. Following the instructions, the setup row will ready the knit for the usual intarsia techniques.
The stitch location is just behind the latches prior to laying yarn over needle hooks in the initial color positions.
More info on traditional intarsia methods includes how to use the intarsia carriage accessory. 
This is from a Japanese language manual for the 891(1987-89) punchcard machine, which appears to introduce the idea of replacing the use of the knit carriage and plaiting feeder with one specifically designed for intarsia 
I always had intarsia carriages and did not recall reading the above information either. The manuals were for machines that are now several decades old, written in days when there might have been no other options and folks were being clever with what they had on hand. In a Japanese manual for the 891, there is an illustration that appears to introduce an intarsia carriage, I added it above. The first method might be workable on simple shapes, I cannot begin to imagine using the second either and it reminded me of the directions for weaving using yarn fed through the yarn mast, switching its position side to side, akin to weaving on the Studio km standard sinker plate.
These are great! I guess I either never bothered to read, or forgot the method with PART and HOLD. I’ve wondered about a way to do intarsia without an intarsia carriage, and without painfully opening every latch and laying in yarn.
As to the second instruction, with putting the yarn through the carriage feeder – yikes! That seems hugely stressful.