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Orange dot is magnet
The magnet (orange dot) is located on flywheel cooling fin near the timing mark. Black dot on flywheel near the teeth is the flywheel timing mark. Black line on shroud is the 21 deg before top dead center mark. Running in this position is within 3/8 of an inch of timing mark. This position is a big improvement - better timing than mechanical ignition points. Checking timing with the mechanical ignition points the timing was 2 inches too slow.Mark was running at the top dead center mark with mechanical points.