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loosten the 3 bolts that are 'holding' the distributor, then you should be able to rotate it on the little guides... it should tend to be in the middle of the runner space...
go to walmart or autozone and buy a 20 dollar timing gun. follow the instructions. or if you dont want to buy a gun just set the dizzy about in the middle of the guide slots on the distr. and you'll be fine.
the three bolts that physically hold the distr. housing on. they are slotted to allow clockwise and counterclockwise rotation of the distributor. turn the distributor until the heads of the bolts are pretty much in the middle of the guide slots. if you go out and look you'll see it pretty easily. one of the guide slots is at 12 oclock, one is at like 5 oclock, and the other is at like 7 oclock.