We CHUM a hole with spawn (salmon, steelhead, whitefish, brown trout, perch) come back to that spot the next day, a few days later, even sometimes a week later, but once they locate that spawn, they start feeding and tend to stick around. When you come back, use a small bit of spawn on a #14 treble and lay it right on bottom with a barrel sinker and barrel swivel 6 - 8" up the hook. Some guys use slip bobbers, I use a dead stick. We are usually between 40 and 80'. Sometimes you catch 2 or 3, sometimes it's 12 or more. Once they find it, they tend to be in the area and stay in the area. The night time seems to be the best where we fish, but the day is productive as well.
Check your regulations in your state, I'm not sure you can chum in some states.