Abstract: An improved magnetic mounting assembly for securely attaching a positionable object to be variably fixed in a desired selected position to a support, for universally moving the positionable object to a desired selected position, and for holding the positionable object during operation is provided, including a positioning element with a magnetizable ball attached to the positionable object. A support element includes a nonmagnetizable outer housing supporting a magnetizable inner housing with surfaces configured to support the magnetizable ball. A magnet assembly positioned within the inner housing includes a magnet in contact with the inner housing and a magnetizable cap spaced a functionally optimum distance from the inner housing and from the ball to produce the magnetic forces required to magnetize the inner housing, the cap portion and the ball so that the ball is securely but movably held in the mounting assembly.