I was going to walk away from this one, since we have covered this in great detail on the thread "Bites" that Chad mentions, but I just can't.

Guys, I been using punch bait for over 12 years now. I have never used cheese cloth, and I can bow that rod most times on the back swing to make a long cast without slinging punch bait off.
Two things when fishing it this time of year. You gotta keep it cool (but, not refrigerator cool or you will wind up with a block of punch bait so hard a chisel won't penetrate it.

) I have an ice chest dedicated to punch bait in the summer months. Just keep a couple of hands full of ice, or a couple of 20oz frozen drink bottles in the cooler with your punch bait. I keep extra containers of the bait and rotate them out of the ice cooler so I don't have to keep reaching in the cooler.
And, if you will use a punch stick large enough to allow you to roll that bait along the lip of your bucket squeezing any excess moisture out of it. I call it, "tightening up your bait."
I also never use spring trebles. Simply don't need them. I generaly use #6 trebles, because I find the #4 has a tendency to create this "sucking" environment. If the bite is aggressive, I go to #4 trebles because you have less swallowed hooks. Count on getting those #6's swallowed, and be sure to bring several (I buy them by the 50 pack minimum.) One fish cost one hook....I'll take that ratio all night long!

It's possible a dink could be sucking your hooks, but if you have good kitties in the area, you won't have dinks, or bream in that same area, cause they know they would be dinner if they hang around.
Dinks usually give indication because they will give you a lot of quick jerks and drops.
But, a big kitty (and I don't care what expert says differently) will go zero bouyant and suck a hook clean without moving a thing if you aren't paying attention.
Anyone who thinks they can simply bait up with punch bait then set that rod in a holder and wait for a bite is spinning their wheels. Sure this will work when the bite is agressive. But, I will guarantee that is only about 1 out of ever 4 fishing trips. The other three times the bite will be a tiny little sucking action that you sure better be feeling for. Or, I will be taking your kitties home for dinner while you're cussing punch bait!

And finally, Dave make sure you aren't fishing too deep. I don't know what that magic depth is. I can typically say it's something less than 15 foot deep. But, the dinks have a tendency to set just a few feet deeper than the bigger kitties. Again, I figure this is due to their desires not to become dinner.

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Mike www.WhiskerKitty.com