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I used to have trouble hanging onto my pencil, but now it's always at arm's length. I simply place magnets on each side of my shirtsleeve and twist a nut onto my pencil (if the nut's too large, I wrap tape around the pencil shaft). My shirtsleeve magnets are also great for keeping a couple of nails or screws handy during assembly or for work around the house. I admit it looks kind of goofy, but at least nobody can accuse me of having a screw loose!
