Hello Chuck, my name is Dan.
I will do my best to help you, the only stupid question is the unasked one.
Your best bet is to contact Apple, we are not Apple.
The number to call is 1.800.275.2273 that is the official help for Apple.
More than likely the lost iPod touch has what is called Find My Phone, I have the same application, the trouble with that is it cannot get all that close, they cannot pinpoint its location.
It can, however, lock it or wipe it, it can also put a message on the screen for the person that has it now to return it.
That's about the best help I can give you.