Thanks, I've looked at various places and gotten some more ideas. It's mounted correctly, with the bleeder up. I saw one post where they recommend removing the slave cylinder and using a screwdriver to push the piston up multiple times, therefore expelling air up into the master.
Also saw another that recommended attaching tubing from a brake bleeder to the slave bleeder and pumping the brakes. Since my brakes are fine, this might be the way to go.