If you only have one valve on the bottom of the water heater, (cold water inlet pipe). then you should have a check valve on the outlet that will only let water out. If the valve handle is "In Line" with the cold inlet, then you are in summer mode, all normal. When you turn the handle to line it up straight, the you have closed the water heater inlt, and opened the bypass portion of the valve. As long as the check valve is working on the outlet of the water heater, no problems.
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LadyWindrider
2012 Ford F250 ext. Cab 4x4
2002 Jeep Wrangler Sahara
2008 Yamaha V-Star 650 Classic
2008 Work and Play 18LT
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