I have a ticking also and it sounds like it's coming from the head area. Once you line up the "I" mark how are you sure on what stroke you are on?

A buddy of mine said it sounds like a valve adjustment issue. I also run a HOT cam.

 

All you have to do is put the spark plug in a couple threads and hand crank the engine over. Once the compression stroke comes around you will hear a hissing of air seeping around the plug (valves are closed). When the hissing stops, the piston will be real close to TDC. You should be be close to your timing mark down at the case at this point.....move the "I" mark into perfect alignment with the notch in the case and you are set.
Gary

 

Another way is to watch the intake valves as your turning it over counter clockwise, the valves will go down (open) and back up (close) as soon as they close it will be about another half turn on the crank to be at TDC on the compression stroke.