The Peg-It system, from Top Brass Tackle, is probably the best way we've found to peg your bullet weight when you don't want it to slide on the line. The Peg-It is a long, thin, tapered piece of rubber with a flat nail head at the end. The idea is to push the narrow end into the base of your bullet weight until it sticks out the pointed end and pull it the rest of the way through until the nail head contacts the base of the weight. Now just stretch the rubber and clip it off at the top of the weight and it will stay securely wherever you want it. The soft rubber peg will not damage the line, like a toothpick can, and the weight can be moved up and down the line easily. The Peg-It is slightly thicker than the Peg-It II and will work for weights with a larger bore diameter, like some of the tungsten weights with the plastic 'straw' removed. Once you use the Peg-It you will never use a toothpick.
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