You need to get rid of the conical spacer on the bottom if you want to slam it all the way down. I believe slamthatstem.com sells the parts needed to do that. Specialized doesn't recommended running spacers on top of their carbon steerers (you can do it temporarily though.) I should add that I'm in the camp that thinks slamming a stem for looks is not a smart move. I would recommend that you don't cut off that steerer tube until you know you can comfortably ride the bike that way.