compression relief valve i am assuming ? It should be in the out position. The valve is to release the compression if the saw becomes vapor locked or otherwise hard to to pull the rope. If the valve is pushed in and stays in the saw most likely will not start. If the valve is functioning as it should and the saw has good compression the valve should return to its proper out position automatically when you try to start the saw by pulling the rope. if it doesn't try pulling it back out with your fingers. If that works and the saw fires try cleaning the valve with some carb cleaner or kerosene or replace the valve.
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