Sweep a wire brush over the roofing cement already present on the chimney and remove all dirt and debris. Brush off any loose bits of the cement.
Identify large cracks which are wider than 1/4 inch all around the base of the chimney. You can also lift up the surrounding shingles slightly to check for cracks in the cement.
Fit a tube of roofing cement into a caulking gun so that the tip points outward. Use a utility knife to slice the plastic tip of the tube at a 45-degree angle.
Press the tip of the roofing cement tube onto the cracks in the old cement. Pull the trigger on the gun to apply a thick bead of the cement along the length of the cracks.
Smooth the cement with the tip of a putty knife and spread it so that it extends a few inches in each direction from the crack.