I think you're confusing 'in' with 'on'. The bob fly should form a bulge in the surface tension, on the hang, so as to imitate an insect trying to break free, as I understand it.
That's not to say it wouldn't work ginked up and skittered through a wave.
I hope Midlander doesnt mind but,
" Palmers, in their various guises are the standard top dropper pattern. They are traditionally used to create a disturbance in the waters surface which, because of trout's habit of looking upward for food, can cause it to rise in the water column to take a look at the disturbance and see if it's edible. Palmers generally need a bit of wind to become useful in this role as the hackles create a more noticeable commotion in the surface layers when there is a good ripple or wave on the water.
A general rule would be to use larger flies in a larger wave, therfore continuing to create a noticeable groove or bulge in the surface tension. However, as you'll find there's no room for general rules in wet fly fishing. Some days the fish won't look at a big fly in a big wave while they'll happily take a size 14 in an 18 mph wind and two foot waves. Other days you might have to go up to a size 8 to get their interest.
Most of the time it's best to match the size and colour of the fly to the food item you're attempting to copy. So, for instance, a size 12 Soldier Palmer when buzzers are hatching. The SP can be effective when fish are taking buzzers just as they turn that red/orange colour at the moment they first pump blood into their wings.
A size 10 Fiery Brown Palmer can be handy in a fall of soldier beetles. The Claret Palmer can be effective in a hatch of black buzzers as can a Kate Mclaren. All the Palmers can be used as imitations of terrestrials. These are the days when the opportunistic nature of trout comes to the fore and they'll snap up anything that passes over them.
Palmers can be skittered over the surface, perhaps the true meaning of the 'bob' fly, but they are most used as something that rises to the surface and
just breaks through the the film causing a bulge like that of a hatching insect. Fish feeding in the upper layers often find it hard to resist if presented in this way. They can also be employed as a lure by covering a moving fish and pulling past its line of travel. The colour, disturbance and movement in close proximity to the fish can cause it to chase and engulf a possible food item.
Never underestimate the similarity between a trout and a kitten with a ball of string. At times, both will chase a moving object and ignore it once it stops."
Soldier Palmer - is it a dry or wet fly?
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