Hogan dropped his hands/club down from the Top about 6" by pulling the assembly down with his right thumb and forefinger. We know this because he showed this to John Schlee, telling him it was "the magic move". He didn't just tell him, he stopped Schlee at the Top, grabbed his clubshaft, and pulled it straight down.
MJ,
I have two different tapes showing Hogan swinging, all clubs, and this move is not apparent in either of them - even in the slow motion sequences.