Anchor up and do both,float a mulie down plus a paternoster rig on the bottom.That way there is always the chance of a mackie or pinkie on the floater while fishing the bottom.
In shallow water just have a chunk of bait on a single hook for blue bone,spanglies and blackies near the reefy areas with a nearly locked up drag to prevent them from getting back to the coral etc

mayb use bean or ball sinker of appropriate size when tide running crabs r dynamite on baldys and blue bone if u no where to find them