Missing and smoking

hi guys just trying to figure out a problem I have my micra seems to be missing at high revs and smoking a fair bit after a rally last year where to be fair it did take on a lot of water. I've just compression tested it and its running 190psi in all cylinders which I believe is pretty good! So would anyone have any suggestions. What to try next? It idles perfectly its just higher end when it's under strain
Thanks
 
Water in the dizzy perhaps? Causing the spark to break down under load? You could take it somewhere dry take the dizzy cap off and leave it dry out our try water dispersing stuff...
 
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