Abstract: A lightweight plastic buoy with an elastic shock cord (31) attached to the nylon line (30) and lead weight (32). Included in the buoy is a plastic spool (21) attached to a metal shaft and crank (20) in a housing (11). A plastic pin (23) is attached to a foam float (24). They are found in a housing (12) near the bottom of the buoy and are moved via the admittance of water into the float chamber (25) through an orifice in the bottom cap (13). The pin (23) forces a lock (22) into notches in the spool (21) which inhibits its motion. A rubber-strap governor (27) is in contact with the top of the spool (21) controlling its velocity to eliminate the tangling of excessive line released from the spool (21).