Your problem is not with the peep. The problem is you are using the loop to align your peep which is not a bullet proof way of getting a peep to align. The loop is changing its orientation on the string after you shoot a few shots. The string cannot stretch that quick for it to be the string. The loop needs to be positioned where it sits straight back from the arrow and the string needs to be taken off the cam and twisted either left or right depending on which way the peep needs to turn. This is the only way to insure consistent peep rotation. More info here...
http://www.yorkcountybowmen.com/peep_rotation.htm