belt tensioner question

[mnoll4060]

Hey Guys,
On my 86 300E I just relaced my water pump. What a ***** of a job! My tensioner tightens the belt, but I don't think enough. I put the little plastic arrow on the wrong side of the tensioner, so I don't know if it is moving enough. I had to put a bushing on the tensioner rod to get tension on it. When I push down on the belt it moves down pretty easy. The car squealed a little bit, but it is not doing it now. I think a little coolant got on the belt. Any body have any input on this? It seems looser than other car's I've had. I must admit I didn't notate how tight the belt was prior to removing it.

Mike