Watering and fertilizing "everyday" is way too much. Are you sure your soil is drying-out and actually needs water before you do water. And fertilizing everyday is definately too much, especially with miracle grow, which is mostly chemicals, (no I don't care for the stuff). You should really check-in to your plants actual needs before adding things as they can produce negative results which may be what you're experiencing.

Also, posting a picture of your problem would really be helpful to those wishing to help.

Greg
Southern Nevada

Below is the picture of my basil.

Here is a link that might be useful:

bluefish,

Your plant is not that bad looking and can thrive if you make a few changes.

Check to see that at least the top layer of the soil has dried out before watering, and then water profusely so that the whole pot is wet. Make sure that the water drains properly from the pot. If the pot sits in a saucer, empty it after watering.

Basil is short-lived and a heavy feeder. Fertilize it with a high nitrogen fertilizer such as 30-0-0, but fertilize it only once a week. Pick a day of the week that's more convenient for you, and fertilize it always on that day.

Do not fertilize with a general purpose fertilizer (20-20-20 or 15-15-15) or any fertilizer with a high middle number as this will encourage the formation of flower spikes. If flower spikes form, just pinch them off. This will keep your plant looking healthy longer and encourage more and larger leaf growth.

Other than that, give it lots of sunlight, but if you get temperatures above 90 degrees, protect it from direct sunlight in the hotest part of the day.

Sorry, I meant to say that basil is short-lived "in my zone 5 garden". In tropical climes, it is actually a perennial although in Italy and other Mediterranean countries, all the leaves are harvested once the plant blooms because the leaves get tough and loose a lot of their scent.