Now that the exhaust valve is ready to be set, take the feeler gauge that is appropriate for the clearance required. In my case, this is .004", but in the case of a stock engine it is .003". For valve clearance, .001" can change the performance of an engine significantly. In the picture below, the .004" feeler gauge slides under the tappet with minimal force.
When you push the feeler gauge between the tappet and the top of the valve stem, you will feel the gauge slip into a pocket before it slides under the tappet. This is because the tappet edge is filleted. Since the .004" feeler gauge fit, you want to check if the clearance is too large. Next, try to slide the .005" gauge under the tappet. You will feel it slide under the fillet, but if it fits under the tappet completely, the clearance is too big. In this case, it does not. The exhuast valve is set properly.
Next, prepare the intake valve for clearancing. Since I am using the rear tire method for movement, I need some way of seeing the exhaust valve. I use a mirror set on a stand and watch the rocker as I turn the tire. To prepare the intake valve, roll the engine forward and watch the exhaust valve until it begins to drop (open). Remember to only allow 1/32" of movement.
Grab your feeler gauge and check the clearance. The intake valve for this cam needs to be set at .004" so begin with this gauge. This one checks out at .004".
Move on to the .005" gauge. This time, the valve is too loose, because the .005" feeler gauge fits under the tappet.
To adjust the valve, place the 10 mm wrench over the nut and the flathead screwdriver into the tappet. Loosen the nut without moving the tappet position. Now gently turn the tappet clockwise to decrease the clearance (counter-clockwise to increase clearance if clearance was too small). Only a slight turn is necessary since you typically only need to change the clearance by a few thousandths of an inch. Once you have the tappet where you think it needs to be, hold that position with the screwdriver and tighten the nut. You do not have to lock down the nut incredibly tight, just snug.
Recheck your clearance and repeat the adjustment steps if you need to. This one is now set properly.
Continue the procedure of E.O.I.C for the other three cylinders. If you have a low gas tank, you may need a 90 degree screwdriver to adjust your tappets.
Exhaust Opening: (<1/32")>
Set valves when engine is cold.
Remove spark plugs.
Rotate engine using rear wheel in 5th gear or using advancer mechanism nut.