I am installing my powervalve after a top end rebuild.  It seems the powervalve is open when the arm is down and when the arm moves up, it closes.  Is this backwards?  The powervalve set screw will only allow it to mount in 1 place.

Thanks for setting me straight.  I didn't want to put it back together until I was sure.  When you say to replace the seals, do you mean all the orings?  I don't remember seeing any seals.