Effect: A card is selected by a spectator and returned to the top of the deck. The magician then proceeds to shuffle the deck very thoroughly, giving the appearance that it is lost in the deck. The spectator is then shown the bottom card. It doesn't seem to be theirs, so the magician places it onto the table (or his/her lap). The spectator is then shown the top card, which also isn't theirs. The magician then places the card on top of the bottom card and places card box over the two. The magician then asks the spectator to go through the deck and find the card theirself, but they can't seem to find it. The magician then asks the audience member what exactly was their card. The magician then proceeds to try and "remember" where he put it. Finally the magician shouts, "Oh, I remember now! It's right here!" and takes the card box off the two cards and flips over the stack, showing the the faceup card is the spectator's card!
First shuffle your deck of cards, showing that it isn't fixed in anyway. Next, fan out the cards and let an audience member choose a card--let's say they pick the 7 of spades. Have them memorize it and place it on top of your deck. Do a few false shuffles, keeping the 7 of spades on top. Next you need to force the card to be second from the bottom. I do this by performing a Clamp.
This is done by holding the deck vertically in you left hand (or your right hand if you're left handed), with the long side perpindicular to your chest and the backs of the cards facing to your left. Have your thumb on one side and your other four fingers on the other. While holding it, maintain a small amount of pressure on the deck by slightly squeezing your thumb and other four fingers together. Now, take your other hand and put your thumb on the short side of the deck closest to your body and your middle and ring finger on the opposite side. Let your index finger rest on top of the long side facing upwards, and your pinky finger not touch the deck at all.
Next, apply pressure on the deck with your right hand (or left, for left-handers) and pull up. This should only leave two cards in your bottom hand--the 7 of spades and the bottom card. Start dropping cards down from your upper hand into your lower hand until there are no cards left in your upper hand. This move should have forced the 7 of spades to become the second card from the bottom of the deck.
Do a few riffle shuffles, keeping the 7 of spades second from the bottom. Next, hold the deck in the Glide position (thumb on long side, other four fingers on opposite long side) and show the spectator the bottom card. Ask, "Is this your card?" and they will answer no. Then say, "I'll put this on the table so I won't make that mistake again" and pretend to put the bottom card on the table, but perform the Glide and put the second from the bottom card, the 7 of spades, onto the table. Then take the top card from the deck and show it to them, asking, "Is this your card?" and then placing it on top of the 7 of spades (face down, of course) after they say no. Place your card box over the two cards, and say something like, "Well, we don't need those anymore".
Then ask them to go through the deck and look for their card. After they tell you that they couldn't find it, put a puzzled look on your face and say, "Let me try and remember where I put your card". After a few seconds of "pondering", look excitied and yell, "Oh, I remember now! It's right here!" and remove the card box and flip over the two cards, showing the spectator's card, the 7 of spades.