I have the 4.9L straight 6. What is the small cylindrical thing next to the ignition coil? Capacitor? Condensor? I believe it used to have a wire coming out of it, it currently does not. I have a loose wire in that area I assume is suppose to be connected to it. The color of the wire is the same as one of the wires that go to the ignition coil.

 

Can you post a picture please

 

I have a 94 150 myself with the 4.9l or 300 six. Yes the wires connect. There should be a connector on the end of each wire. On the coil side the connector is a female. The other the male or spade end. If it ran before I would check on what caused them to come apart.

 

It is a capacitor, which is used to minimize RFI and makes using your AM radio more enjoyable and not driving you nuts.It is problably tied to the BATT connection on your coil.
The capacitor is not going to cause your engine to stop. You need to use an old spark plug aor spark tester to see if you lost spark. If that checks, hang a fuel pressure gauge on the shrader valve and verify you have 45-60 psi of pressure.

 

Today I put a new ignition switch in. With new switch the truck would not even turn over. Never had an issue with that before. I reinstalled the original switch and it again turns over.
I have zero power to the coil with key on when testing with an incandescent test light. Of course no spark with spark tester. I bought a new ignition module, distributor pick up and inition coil but have not installed any of those yet. Ideas on what I should do or check next before putting unneeded parts on the truck? I am guessing it is the computer but that is nothing but a guess.

 

This should help you troubleshoot your problem.

http://www.myo-p.com/Ford-EEC/EEC%20...eshooting.html