What I meant was that in normal operation (no large mammals fooling with that lovely, tempting knob), it acts as a "one-way valve" -- it can extend but not retract.
Of course, if the ramp in the end of the pushrod has dents in it, it can indeed get hung up at a certain spot. Keep yer mitts off that knob, and it'll usually be fine.
If you truly desire a manual tensioner for some reason, simply tighten the setscrew all the way.
I have found that on about half of the engines I encounter, someone has mistakenly locked the pushrod -- instead of leaving the setscrew half a turn out so the pushrod can extend when needed, they've tightened the setscrew all the way. Eventually the cam chain gets a little slappy, since there's nothing compensating for wear.
On a street engine, there's absolutely no need for a manual tensioner unless you just like the way they look or you like sending money to APE.

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