Fly fishing can be tough at times and then it can be really good. I use a small white jig I tie for starters and if it catches fish I keep using it. I was turning over rocks last sunday and found some mayfly nymphs that looked about a size 16. You could stop in at Beaversbend flyshop and see Sid for some fly advice or Go to Three rivers fly shop on Highway 259. Pheasanttail nymphs, midges are a few I would try. Most fish will be taken fishing subsurface. I think blue wing olives and sulfur mayflys are year around on LMF, also try googling "hatch charts", "LMF hatch charts", I've seen some but can't recall where right now.
If you drive on past Sid's store on the left, go on to the "Evening hole" area. I usually fish it in early spring as it gets a little crowded in summer, but it might be a good place to start. I usually had good luck with nymphs, pheasant tail, bird's nest, BWO's, and prince. Stop in at Sid's, he'll tell you what's working.
During the summer it is tough to fish there, especially during the summer vacation time. There have been some people who ignore the restrictions about fishing. Nevertheless, the place gives you an ample opportunity to fish. I recommend the spill way section though I cation you that you have to be very careful. The surfaces of rocks up there are extremely slippery. I had a couple of bear plunge under my belt already. After those misfortunes, I bought a staff when I fish the spill way area.
In the spill way, I would suggest that you use nymphing method. Y2k and other egg pattern work. I sometimes tried a tandem rig where I tied two flies, usually size 14 followed by 18. I was surprised that when fishing is slow trouts are hitting smaller size flies such as zibra midge or Rim Ching's rs2.
The most important advise that I got from many seasoned pros up there is that the way present your flies in nymphing determines the success of fishing. My take is that if you do not let your flies down to the bottom and do not lose your flies occasionally, your presentation is poor. The other day I was watching one guy struggling, and I suggest him to use a split shot and he began to catch some fish. So go figure.
Another fly that I would recommend is woolly bugger. About three weeks ago, when fishing was slow I cast black woolly buggers down stream and strip the line and caught several fish (some of them were brown). When I tied woolly, I add more shining stuffs.
Finally, even if you do not catch any fish up there, the place is just gorgeous. So enjoy it.
Thanks for the replies. I've fished from the spillway down to the Evening Hole before, but never lower than that. I would imagine Zone 3 and maybe even Zone 2 will be too full of vacationers.
So far I have plenty of all the flies mentioned, except that jig. And I'll check with Sid.
Texas, my experience was it worked best fishing on the bottom - not close, not almost, but on the bottom. Like you said, if I wasn't losing flies or getting hung up, I wasn't low enough. And that worked. I use tungsten beads on all my zebra nymphs, and I typically fish a two-fly rig with a zebra as the lower fly.
I'll call Sid this next week, but it sounds like the flies are about the same as other parts of the year.