No, don't look down...

Big Bad Wulff mentioned the lack of a hook loop on TFO's predator which made me think of a tip I got from a guide on the Farmington. He called it the Argentina Tap - where he learned it.

When securing your fly, rather than securing it to a hook loop or to the cork butt, hook your fly on a rod guide as high up the rod as you can reach. Do this with some line still dangling down.

Then reel in line so that the leader hooks under the bottom of the reel. You should have (if this makes any sense), line coming out of the tip top (depending on the length of your leader), going down the rod maybe a foot or two, with the leader looping under the reel and back up to the fly which is hooked on the guide. Tighten up a little on the drag and it's really unlikely your fly will swing loose. Another advantage is that the leader won't kink if the line is coming out of the tip-top.

To start fishing again, pull the line/leader out from below the should have a loop hanging down towards the water/ground. Then tap on your rod, the fly will come loose. Having a little bit of line out will help as you work to get more length.

Hope this makes sense and helps.