How do you get it pointing straight down? The thread on mine makes it point sideways unless I want my ball tap sideways. I feel like this is a really stupid question but how do I do both?
You are limited by the thread unfortunately, my ball valve faces upside down too when i quickly popped it all together. If you can't tighten up tighter to get the position you want, you can do everything up tight with ball valve correctly positioned and then just tighten the elbow in the kettle up a couple of turns (yes it will be loose, but it can't really "leak" when it's inside the kettle). It should remain sealed enough to siphon the wort out after the boil.
Another option (I'll be trying this), is to tighten the elbow up in position and then use more or less thread seal tape on the ball valve to ensure a tight sealed fit in the right place, as the thread tape will reduce the amount of turns until tight and sealed.
You could also use some washers to limit the amount of thread taken up. It might be a bit of trial & error / hit & miss with the thickness of the washer to get it right. Stainless or squash-able silicon, not sure about using nylon on the outside re heat resistance but it won't be in contact with wort.
Another option is to upgrade to a 3-piece valve on the outside. The valve can be tightened into place with your elbow facing down, then the outer valve-handle section can be rotated by 90/180/270 degrees to put the handle in the upright position.