Cb wont talk out and wont receve and when keyed up have both red lights on

there are two lights on the face of that radio near the channel selector.When you turn the radio on the top top light should be a greenish blue until you talk then it should turn red to let you know that you are transmitting . If the light below that one turns red at the same time then you have an antenna problem. Its not a no ground antenna its a no ground plane antenna ,you still have to ground it .

if a mod has been done to the cobra 29 (all 29,s)the light will come on just find vr6 audio the radio as it comes on adjust vr6 untill it goes away,,,,always trust your watt meter(s.w.r scale)over the flashing light its really easy to do it beats paying a shop $10-$15

2SC1969 is the correct final for RF TX.
Do you have 50mA between TP 7 and TP 9?

Do you have 100mA between TP 7 and TP 8

I'll bet that the A.W.I. is out of adjustment. give it a little twitch of a turn and see if the red light goes out.

Bad coax cable or antenna. Your SWR could also be to high.

you could have a bad soilder but probably your voltage regulator went out.

If there is no carrier, and the mic is good then it sounds like there is something wrong with the final transistor. You can try replacing it with the same thing, but if you do not know anything about the inside of your radio, you should take it to a tech at a cb shop, or send it out.

You can usually find cb shops at truck stops.

If you had a high swr reading, or never set the swr, then you most likely blew the final.

have you changed the mic.

If you have no channel display or CB operation, it sounds like a blown voltage regulator that supplies power to the CB PLL circuit.

sounds to me like the final driver is blown, try replaceing it with a new one.