I don't think there is a rod coming out the side.That's a tapping head for power tapping holes. It goes in the spindle of a drill press and a rod coming out of the side keeps the bode from turning as the spindle turns. The spindle in the tapping head turns with the spindle of the drill press. when downward pressure is applied, the tap in the head will tap a hole in the work piece. When upward pressure is applied the spindle in the tapping head reverses and the tap backs out of the work piece. It does require the right style of tap in order to work properly. It is also more of a production tapping type of tool.
Richard
If you look at the picture there is a rod under the wrench and a bracket on the end of the tapping head with a hole for the rod. I let the rod bump against the column of the drill press. This allows me to feed with one hand and position the work piece with the other. Just my method.I don't think there is a rod coming out the side.
you grab the top or bottom to tap, and release it to stop. On that one, I believe you still pull the bottom shaft out to reverse.
I have the screw driver version, that I modified to make a tapper.
Tapping Head
I saw a video , I think doubleboost, maybe someone else. They used a Speeder (English for reducer). The English ones are way nicer than the American units. But I'm too cheap to get one and ship it over. At the price I could buy a tapmatic. I bought this one on ebay for $6 a few months ago...www.hobby-machinist.com