89 rs tbi with 133000 on it, very clean (no leaks doesn't burn oil) when I try to set timing it jumps all over the place also when it's at an idle (after it has warmed up (165-180ish) it misses(skips whatever) is it timing chain (maybe stretched a little) also it knocks a little and thats with 94 octane

 

Have you done a tune up lately. I'd check the condition of your plug wires.

 

yeah plugs wires cap rotor ful tank and all mighty fuel pump

 

Just to cover all the bases, when you try to set the timing, are you disconnecting the ECM wire? (IIRC, it's a brown wire - different from my carb car, so not sure.) If you are trying to check it with the ECM in control, it will jump around on you.

If you get the timing set where it's supposed to be and it still pings on you, check the EGR valve. A non-functioning valve or plugged passages will tend to cause pinging.