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Did you check for spark on the plug wires?
Pull coil wire off of dizzy and see if it has a strong spark. Also check for corrosion on the rotor and cap contact areas. I assume battery is strong and it is cranking over good. Once you do that and feel comfy you are getting good spark, spray some starting fluid in the carb and see if it fires and runs a second. If it does, move to carb and fuel supply.
I THINK the yellow wire may plug on the oil sensor. You can see the round terminal it may connect to. Its the thing between the two blue pipes in the picture. But the other loose wire may go to the oil sensor. Hard to tell and I am just going from memory.
If you think spark is weak at the plugs, then check spark at coil wire. If it is strong, then check dizzy/point gap, corrosion, etc. Simple thing would be the points/condensor are bad. Not sure you replaced them. Point gap tends to close with wear.
Also, starting fluid will let you know if is enough spark to fire. Is the dizzy tight where it wont rotate?
With the coil out of the circuit, I doubt if you would get any but a small, battery induced spark.(BTW-the yellow wire w/black stripe goes to the oil pressure sender)That's the thing, I'm getting a spark at the plugs, but it looks weak. I completely disconnected the coil from the truck, then I hooked up the pos terminal to the batt. I placed the high voltage output wire near a ground, then I connect the neg terminal to the neg side of the batt. From what I've read I should be seeing a nice big spark from the output wire, but all I get is some little blue sparks from the neg terminal (no arcing).
Here is the starter wiring, can anyone confirm this is correct? The pos cable has been replaced. I'm not sure what that yellow wire is for?? I just have it hooked up to the pos terminal.
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"Funny you mention the solenoid. I don't hear the click with the key, but when i was testing the coil I touched a jumper wire from the coil to the battery and i heard a click. I tried it again and put my hand on the carb and I could feel the solenoid click. So it does work, but I forgot which wire i jumped since this was a few days ago."