I put my pulley 1m above the hounds as described on the VMCA's Spinnaker Rigging Section. When i pull the halyard on all the way the knot in the halyard just above the head of the spinnaker does make it to the pulley. Maybe your pole is too low? i based my pole height off of the photos on VMCA with the end of the pole around the same height as the gooseneck on the mast. From what i understand, in light weather you want the luff tight, halyard all the way on, and in heavier weather you can let it off a few cm's.