I looked at Lou's site and have a more detailed answer to what I would try.
Using Fig 1 on his
HEI for points page:
connect everything to the right of the transistor as shown.
Use an R1 of 4.7k as shown.
Replace where he shows points with a resistor about 100 to 470 ohm. (we'll call this resistor R2)
Also connected to the base of the transistor: a capacitor with the other end of the capacitor connected to the pickup coil. At least 1 uf, bigger is probably better.
Note, while setting the operating point, disconnect the coils so they dont overheat.
To set the operating point (and dwell), adjust the ratio of resistors R1 and R2 ... for the coil to be off, the transistor should be turned on, with the base above about 0.7 volts.
Use your multimeter to measure the voltage at point G on the HEI module as you try various values of R2.
with R2 = 470, point G should be near ground.
with R2= 100, point G should be high (well above 1.65 volts anyway)
try various values of R2, Use the smallest one that still keeps G near ground (i.e. will result in coils being off when not getting signals from the pickup)
If this results in too much dwell, increase R2
To test for spark and correct assembly/bias, hook up coils, and briefly short R2 (i.e. short the transitor base to ground), when you break the short, the spark should occur.
If it passes this test, try it with the pickup and a magnet.
IF you really get a negative signal from the pickup(and it going positive again signals the spark) this should work.
If you really get a positive signal but still need amplification, a second transistor stage would be required.