well, i almost lost my 94 gt mustang today. i started it and was backing up when i smelled a burning smell and noticed smoke. long story short when i turn the key on to the run position the positive cable and the cable to the power distrubitor box (small box behind battery) started glowin.

i figure it was probably the positive cable grounding out BUT i pulled the cable and theres no signs of rubbing, cracking, or contact to a ground. what do you all think it could be?

 

Look inside the distibution block and see what was burning and trace it out from there. Honestly I dont think anyone will be able to answer your question since there is lots of wiring in that area

 

Can't really do much without being there to see it and get a multimeter out to test for power etc...