If you're actually on the compression stroke, then you have a point gap and/or timing issue. The points should have approximately a .020" gap with the rubbing block on the highest point of the cam, and the points should be just barely open as the spark fires. Once the points are set, align the timing marks somewhere in the 0-10 degree range with the distributor rotor pointed toward the #1 plug wire, and turn the distributor housing clockwise until the points close. Then turn it CCW until they just barely open. I use an ice pick type test light with the pigtail lead grounded and the ignition switch on. Touch the probe to the coil tower that connects to the distributor. With the points closed, the light will not burn. Turn the distributor housing CCW until the light comes on, and lock the adjustment down. You will be within 2-3 degrees of the correct timing.
Jerry
