The fish are definitely moving deeper to shallower ( and vice-versa ) so if you're confident in a spot it pays to be patient. We're seeing a new wrinkle, when the fish move out as the day progresses they're now moving out into 30+', yippee. We're hoping that with the weed beds growing and the young leaving the nests the Ospreys will start spreading out and things will return to normal. The fish are now holding under banks and weed beds so outside of the deeper holes your presentations have to be tight to coverage to have a chance. I don't think the fish population has dropped as much as the fish have seriously changed their habits, especially at the Interpretive Site.
I hate to have to pass this along but due to the number of Ospreys working Hot Creek the fishing has changed considerably. I still tell my clients that a 4 second drift is average and finish with an aggressive pickup, you will hook fish you never knew existed. And don't forget the ever-present midges. Not only does it cover the mayflies, but it also imitates the case caddis. Since the caddis are now getting active try fishing a Pheasant Tail #16-20, either bead or non-bead. The tough part in the canyon is that the hatches can be different day to day and also upstream versus downstream. The BWOs are getting smaller, more in the #20-24 range and the hatch is starting to wind down.The canyon has been fishing well until early afternoon before slowing down, I've heard good reports about late afternoon but no specifics. Fishing has been better early, BWO nymphs and Scuds followed by the BWO hatch starting earlier now, between 10:30 and 11. The PMDs are starting to show up midday as well. BWO mayflies and caddis midday, Little Yellow Sallies midday into the afternoon with caddis again in the evening if the wind dies down. Midges early with the surprising pre runoff appearance of Trico mayflies in the upper canyon to interpretive site. Keep going the scud, streamer and San Juan worm route but the food sources are varied so don't stick with any one pattern for to long. Runoff has already started to drop but high enough that the fish still feel safe.