  We construct the wave functions for the Moore-Read $\nu = 5/2$ quantum Hall
state on a torus in the presence of two quasiholes. These explicit wave
functions allow us to compute the monodromy matrix that describes the effect of
quasihole motion on the space of degenerate ground states. The result agrees
with the recent discussion by Oshikawa {\it et al.} Our calculation provides a
conformal field theory explanation of why certain transitions between ground
states are forbidden. It is because taking a quasihole around a generator of
the torus can change the fusion channel of the two quasiholes, and this
requires a change of parity of the electron number in some of the ground
states.
