How would you approach this situation?

[riverdog]

The dabbing as mentioned is a good choice. I don't know if you can wade upstream from below and cast from the stream below. The other choice to cast from that spot is to use a slingshot cast. Takes a little practice but not more than most techniques. Here's a youtube video demonstration. You can do it overhand as shown or in other situations an underhand technique is productive.
http://www.youtube.com/watch?v=3dSvl9LK8ao
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