It's a dual action. Turn it one way and the round rod is shortened and it bends away from the square rod. Turn it the other way and the round lengthens and it bends toward the square rod. While you have it out turn the nut both ways to see what I mean.
Shove it back in and carry on.
*1962 Jazz. '74ish Ampeg V4B, 115/210. * '75 Gibson G3. *Epi Tbird. *Squier: VM Jazz, CV 50's P. *Squier VM Jazz Assoc. *MBC 641. Squier owners club