stealing traffic

If a website is taken offline for an extended period of time and it stops ranking for all its keywords(has been offline for 6+ months and is no longer indexed) can I proceed to steal some of the best performing content from the site? Will Google penalize me for stealing the content if it is...

Say I found a for sale .co domain with an address identical to a popular .com domain. Think of reddit.com / reddit.co well. a bit less popular. What do I do to get the most our of it?

My website is 6 years old and for 6 years I get on average 30,000 unique visitors per month and 2 - 3 Million hits per month. Well all of a sudden in May - my stats DROPPED to 1000 unique visitors and 55,000 hits per month!! As you can see this is a HUGE drop! I did not understand why as...