Strange place in that although easily accessible from the car it's fish seem to wander away at times! Stop at Malcom's shop at Gallows Point (ABC Baits) and he'll put you onto where the fish are being caught.
I personally enjoy the place at this time of the year as it only gets crowded in Summer when the mackeral stay and it's 'Combat fishing' with someone standing on your toes! This is good because it means that they're not fishing where i'll be that time of the year! At any time I fish to the right of the point up to and including high water. Low water allows you to fish the beach and you can retreat with the tide and fish/climb up a few ledges to the top. Otherwise fish the promintory that leads tp the lighthouse. VERY snaggy but you never know. They were catching Herring out in the sound this time last year but I don't know if anyone had any off the shore?
For more info. do a search, up top for 'Penmon'. Good luck!