The sealing elbow sounds like a good idea to me. Unfortunately, the only elbow type seal I've been able to locate is a 3/4" from Crouse-Hinds. The on-line catalogs from Killark, Appleton, Thomas&Betts, and others don't list a sealing elbow, only straight elbows.

Are there any suggestions where I might find the 1-1/4 inch variety?