cannot get this engine to run

I checked the timing. I pulled the plug and the compression blew my thumb out. I looked down in #1 and saw the top of the piston. I checked the rotor and it was sitting at the # 1 plug wire. I even turned the dist. 180 out to make sure and it just turned over real fast and nothing. so I brought # 1 back up and turned it back around. It ran for a short time until I removed the alligator clip from the ballast resistor.