Catching fish in 38 degree water defies conventional wisdom for sure. Just a couple of observations and a speculation though. The observations: The air temp was easily in the 60s and bugs (looking strangely similar to the March Brown I was using) were hatching. The speculation: Having a higher elevation and therefore cooler water habitat overall, maybe the specs don't go dormant at the same temps as bows and browns.
Or maybe my thermometer is busted - but it's relatively new so I hope that's not the case.