Candlewax/parafin is great. If your caught in a pinch the oil from the area around your nose works good too. I know it may look funny but just rub the rod agains your nose. Oiliest part of your body. Just make sure you wipe any mark off your face when your done or when you walk in the store after fishing you'll get some strange looks (stranger than normal).
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Mark Strand
aka - TC