Initial timing set-up, dot to dot, #1 TDC, and while there drop the dizzy drive gear in, lines in line with crank.
A little backup...you should preoil the motor, just before you fire it off the first time. That involves the drive gear being out, so the preoil shaft can be used.
Anyway...TDC...dot to dot...both #s 1 and 6 will be at TDC. Are the heads on, int manifold, valve covers? At least with valve covers off, you can watch the rocker arms, pushrods, etc.
You want to time the dizzy at #1 TDC compression stroke. Rotate by hand, watching the valve movement. Before TDC #1 intake will close, at TDC compression stroke both valves closed. After you find that, back the motor a little, and bring back up to around 10 degrees BEFORE TDC compression stroke. Then you can mount your dizzy.
If #1 is at TDC...and you move the crank back and forth a little, and you see BOTH valves opening and closing, it's at exhaust stroke. Your seeing valve overlap.