By all means strongly resist the the temptation to "reel in the drift gear quick for another cast" thing. There WILL come a time (or times) when a fish will follow and seemingly come out of nowhere to take that "hanging" spoon below you. I have seen this many, many times and it is always a surprise and often a rude one at that. Just happened to me a few weeks ago. If I wasn't anticipating it I would have thought my spoon was stuck in the rocks below me. It hit only a couple of feet off the bank after very sloooooowly working the spoon back to me.
By the way, in this situation you must be very careful not to set the hook too hard or you can easily pull the lure straight out of their mouth. It's hard to resist but in this sitaution I try to wait till they have turned before I stick them. Kinda like plugs.
Steelhead are not the most cooperative or predictable fish though, so I'm of the opinion that sometimes losing them just comes with the territory.