Don't be too quick to dismiss trolling, while a bit un-orthodox in the halibut fishing world, trolling can be as or more effective than soaking baits. I guide in Alaska, and 99% of the time fish are prevelant enough that you can get away with waiting for them to come to you, sometimes they're too spread out though and you have to change tactics. Slow trolling, 2 knots or less with a big flasher and small herring is dynamite for halibut. Fishing out of Homer, halibut often become a welcome nuisance when trolling for kings near the bottom.
If you hit the doldrums while fishing for halibut, downsize your baits or lures. A 2 ounce point wilson dart is candy for almost every fish in the ocean, sometimes dropping a scampi or dart down with the bait rods will get the halibut conned into feeding. My staple bait for halibut are horse herring, but again if the bite turns off, dropping a troll-size herring down on light line usually sparks things up again. One of my favorite rigs is to take a salmon mooching leader with double octopus hooks and hook a troll herring onto each hook through the nose. Try it sometime and look at their action in the water, two bright baitfish darting back and forth right next to eachother is hard to resist.
good luck
david
http://www.deepstrikeAK.com