Window glazing - caulk?

If there are only a few areas of glazing cracked, would it be OK to use exterior caulk to patch those areas?
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I have done that - but it would be better to get a small can of glaze and do it right. I understand the 10:1 time difference.
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Gene wrote:

Sure it would be ok, especially if the cracks are only 1/16" wide. But why use caulk, real glazing is easy and not that expensive.
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