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Try counting down your sinking lure to find what depth the fish are holding. Many manufacturers are marketing crankbaits that sink at about a foot a second and you can take advantage of this to pinpoint how deep the fish are concentrating. Cast the lure out and count down "one thousand one, one thousand two" and so on, then retrieve the bait. Continue casting and counting down a foot deeper with every cast. When your bait gets hit you'll know how deep your next cast should be allowed to sink before retrieving it. Try fishing at this depth or a little shallower. Muskies, bass, pike and other fish will usually rise to take a bait but often overlook one sailing by in the water column beneath them.
If you can determine how quickly a spinnerbait flutters down to a prescribed depth, you can use this bait for controlled depth fishing as well providing the blade is a willow blade. Colorado and Indiana blades give the bait too much lift.