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Rob
Take a look at the 700/900 FAQ's, the transmission in the 240 is the same.
http://www.brickboard.com/FAQ/700-900/TransmissionAuto.htm
The cable can get frozen (corroded) over time so a good dose of PB Blaster down the cable may free it up if it is sticking.
Make sure you have the proper level of good clean trans fluid. If it is dirty (old) you might consider a complete flush, the FAQ's cover this easy procedure and often solves problems with the trans.
The kick down cable is attached to the throttle body pulley along with the accelerator cable, look for the
cable that goes down towards the transmission.
You might also want the Robert Bentley manual for the 240, it is in large part based on the Volvo manuals called the "green books".
Dan
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