I've heard that people put bobbers on their fly rods and fish for steelhead. Personally, I'd never do it. It probably doesn't really work. Even if it does work, I'm confident that most fish prefer to get stuck in the face with a piece of sharp metal from a traditionally swung and beautifully tied fly, rather than some haphazardly tied glo-bug or stonefly nymph. That being said, if a person did want to indicator nymph (as I've heard it called), I guess that doing it like the guys in the following video would be an o.k. way to go about it.
All kidding aside, I don't know the guys in this video, but they're on top of it! Their presentation and mending looks great and their fish handling (note that he wets his hand before grabbing the fish's belly) and release are better than what you often see on our rivers, especially from guys this age.
If more people would take a few hours and actually learn how to fish like these guys, I'm confident we'd have a lot less snagging on our rivers. Maybe even more respect for the rivers and fish and in turn a lot less beer cans and garbage left on the river after the salmon and steelhead army departs the rivers for deer season (ok, maybe that's a stretch).
To that end, here are a couple videos by Mike Schultz and PureMichigan showing how it's done.