Yes you are. I was using the wrong terminology when referring to it as the bolt when in reality the part that can be moved is the carrier.
As an FYI, took it to the range this morning, wasn't sure what type of accuracy to expect. Fired 4 - 3 shot groups with different charges, all below 2" with 1 below 1". As a huntin rifle, I'll be happy with consistent 1.5 - 1.75". Thanks for the help.