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It could be a number of things, we need more info to help though. Edit your signature so we know what truck your talking about (year, size, trans.). If the truck runs well otherwise, it's probably not the timing. Is there a reason why you think it could be the timing? What is it set at now? Does the engine only burn oil on start up, or also as your driving?
If it only smokes after you start the engine that's usually leakage through the valve seals. If it smokes all the time (blue smoke), it's usually the rings, or the cylinder is just worn too much. Black smoke usually means too rich mixture.