New member need HELP? NO power

Hey. this site is very informative learned alot in alittle while. Lots of good ideas. I have a 87 mustang 5.0L auto Its Speed density. Pretty much stock, long tube headers, flow master mufflers. It has no emmissions on the car either. The problem seems to be the timing . I can start the car but seems like the power is not there. But when I hook up the timing light and remove the spout It will only read 0 degrees? what could that be. and with the spout in it is only at 2 degrees? the distributer was out of the car once before. When it runs the charge will not hold in the battery. should the spark be a Fat Blue spark or white . I cant figure anything out. It did run good once. The battery held the charge. started right up after shut off. Next day did not work. Please help Thanks.

thanks for the reply. I.ll put the light back on and see what happens.

Got the timing set to 12 degrees. but still does not run right. When I hit the gas pedle the rpm goes up then when it comes back down it wants to stall. would the PIP be intermited and cause the problems.

just put a new filter in 3 monthe ago. The tank had been sitting empty for a long time. Could the filter be clogged already. and the timing. It woks great when the spout conecter is out the car runs better.