John summed things up well. I'll try to add some stuff in.
1. Powerbait will work. I've used some of it. It all comes down to the wiggle of the worm. I don't see it much better than normal rubber baits though. I look at it like this. Fish beacon in on a bunch of things. When you consider that they are in rough ocean or fast current, I think, they are being overwhelmed with data. I don't think smell is a big one. Not as big as the action or color or size.
2. You can only catch fish if there are fish there to be caught. If the mackeral wasn't working, perhaps they weren't hungry or they weren't there. If I was baitfishing, this is where I would switch to plugs. My belief is if you use lures, you can get strikes from aggravation.
3. Use the lightest weight possible. There might be times when you don't need a weight or there can be times when your heaviest weight won't hold. Use only what you need.
4. Not me.
5. Tides are crucial. Scout your location out at lowtide. And come back and try to fish the last of the incoming, the slack high tide, and the first part of outgoing if you can. This takes some time and it can be frustrating when you plan on fishing a spot and come back and find someone with your spot.
Good luck
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