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The neutral light flickers or doesnt light up when out of gear so if you put the stand down it dies and you have to hold the clutch in to start it. Also my temp gauge is going crazy. Its normal then I may stop at a light. When I take off it goes to all the way up to the red. I put it on a bike stand and out of gear it does fine. I can turn 8grand and not hot but put it in gear and just twist the throttle to 2,000 and boom its in the hot. It has got to be a bad wire some place but where to start cause it only does it when in gear and giving it the gas.

Sitting on the stand, revving with no load on it, the motor will not make much heat. On the road, pushing wieght and wind, it is under load and will get hotter. So that part might not be just a wire. The timing, or more likely, the jetting may be off. Does it have an aftermarket exhaust?

The neutral light problem should need only a little time with a voltmeter to track down.