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MSD 8275 is a 3/8" shielded pickup with a ground
http://www.msdignition.com/uploadedFiles/MSDIgnitioncom/Products/Distributors/8275_instructions.pdf

I know most guys have the 3/4" pickup and I will have to get that also
but I'm sure when it's grounded it would fix any probelms

the grounded black is just grounding the sheath cover to eliminate interference.
thread from MSD forum:
http://www.msdignition.com/forum/showthread.php?t=6790

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...........Before spending the bucks on the MSD shielded wire, get some heavy tin foil from your grocery store [under $2.00]....wrap your crank trigger wire with it, and try it. I had the same problem, and that cured mine. And for the two bucks, versus the $180.00 that I was quoted for the shielded wire, the tin foil is now part of my racing operation.