Another way to slide the back end into a turn is to let off the trhottle very hard. Go into the turn with the throttle open, then when you want to slide, shut off the throttle very quick. The bike is putting weight on the rear tire when you are giving it gas. This increased weight bias makes for more traction for the rear tire(invision your car leaning bike when you floor it). When you suddenly let off of the gas, w=the wieght bias returns toward the front, and the rear tire has less traction. Ideally, the back end will slide out, and as it does, you apply more throttle back into it to regain traction, once your headed in the right direction. This too is a diffucult technique, but it can be done. I believe that this is how superbikers slide into a turn, and I know that rally drivers will do this as well. If you just want to look cool, or turn around real quick, then weight the outside peg and pin it. All that fish tailing scrubs off speed though.
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'98 ktm 200exc