You want to adjust the valves at TDC on the compression stroke. I think you are at Overlap TDC.
Intake, Compression, Power , Exhaust
After the intakes snap shut you can hear the puff of air coming out of the spark plug hole, that is the compression stroke and that is where you want to adjust the valves at TDC.
At overlap TDC both valves will be slightly open giving you an erroneous measurement.
https://www.youtube.com/watch?v=vg0x4_mQd9M
http://husaberg.org/mechanical/7513-help-neophyte-adjust-his-valves.html