1988 Ford F-250 4x4 with 305 Motor Fuel Injected?

Truck has a little bit of white smoke coming out, just replaced timing chain but haven't done timing, a couple people have told me that once I do the timing it should stop, Is this true? Truck runs pretty good. Just the timing is off a little bit. When you really accelerate the white smoke comes out. but it automatically disappears once it comes out, after the truck has been running about ten minutes it sort of slows down. I hadn't passed smog Last may because of ERG but i changed everything pertaining to ERG. So will that white smoke cause me to fail smog?
When a head gasket is blown it is like a Fog machine it never stops flowing out, and It doesnt go away it lingers.
 
first Ford didn't build a 305, it's either a 5.0L or 5.8L...white smoke usually means there is water in the exhaust, a little on startup is normal, but a lot is head gaskets and the motor will boil over...to pass smog, a new egr valve, and cats should fix it, as long as it does't get hot during testing..
 
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