repairing neoprene waders

Yesterday I felt that cold moist feeling that all stream anglers dread, a leaking pair of waders.  My Hodgeman bootfoot neoprenes seem to have sprung a leak some where near the top of the right boot.  I gave them a quick once over last night after I got back to the car and could not find any obvious hole.  I believe they are leaking at the point where the boot meets the neoprene.
 
My question is, is there a good way to seal the seams to prevent further leaking or are these waders destined for the trash can?  Any help would be appreciated. 
 
BTW - these are a cheap pair of waders, nothing special, so they are not worth investing more than a couple of bucks in.  I did get two good winter seasons out of them, so that it not too bad.

shoo goo is good stuff, works great on neoprene.  i like to thin it some first, makes it easier to work into the rubber and  it goes on smooth and thin.  then add a couple of layers.

If you are having trouble finding the leak, here's how I found the leak in my old Orvis Silver labels.  Turn the waders inside out, and then hold them up and fill the inside of the leg with the suspected leak (which is actually the outside now) with water until you see where the moisture is coming from.  I think I read that using some baby powder helps spot where the leak is, but I didn't need to go that far mysefl.  I would recommend doing this in the bathtub, and a second person to help hold the waders while filling them is helpful, but I found the leak in about 5 secs, a ruptured seam that I quickly fixed with the repair kit. 

For neoprenes I used clear rtv on the inside and outside of a gash I put in my neos nearly a decade ago.....not pretty to look at, but I haven't sprung a leak yet.   As a good example of fisherman's luck, I gashed them the FIRST day I used them.........haven't poked another hole in them since, but the big RTV goober on the outside is a reminder.  But I agree with the above, the Shoo-Goo stuff is the way to go, that junk is amazing......

thin it out with mineral spirits to the consistancy of honey or syrup

If you can't find shoo goo I'd recommend aquaseal. Its more expensive and after you open it up it seems to dry up but it is awsome stuff. I v'e used both and had better luck with aquaseal than shoo goo but they both work.

If you turn the waders inside out, sometimes you can see the wet spot. If not, a litle rubbing alcohol on the inside general area of the leak is supposed to make the hole turn almost black. Apply the aquaseal or whatever on the black spot. I've never had good luck with Hodgmans, once they start to go, they often are near the end of the road.

Bug,
   If you can get to a hardware store try Solar Seal silicone caulk.  The stuff will stick to almost anything and seal anything it touches.  We use it to repair leaks in membrane roofs an it really works.

If anyone follows the advice above with stockingfoots, save the bottom as a sock for use with wading shoes in the Summer if you feel like wet-wading.