It should be flush with the end of the cap. Usually I'd say change the battery (what batteries are you using?), as this is typically caused by the solenoid not having enough juice to stay open long enough to drive the rammer with sufficient force (or by the dwell being set too low). Have you fiddled with any of the timing settings recently? If you've cleaned and lubed your HPR, LPR and rammer, I would definately be looking at one of these two areas. Failing all of that, you can always try cleaning your QEV block out.
Other potential, but unlikely, causes would be your bottle is nearly empty (I'l give you the benefit of the doubt on that one), the OOPS is depressing your bottle pin too far and is restricting airflow(try backing it out a notch, but I really don't think this is the problem).