I just rebuilt this thing new piston rings got it fired up compression only 120 could that be adjust the timing by the caps on top of the head??? Will it boost my compress ion n stop smoke???

 

No, taking off the covers won't Adjust the timing, you'll have to take off the valve cover on the top of the head. Also oil is only caused by a bad valve seal or piston rings. I would replace those while you're at it bc I did it and it was only a $30 job including rings seals and gaskets and it runs perfect now