My mustang makes a white smoke plume during high RPM shift changes

[twpnut4040]

i just bought a 93 lx from a buddy. it sat in his garage for a couple months. it runs and idles great. but when i really get on it, i see a plume of smoke. (only when i really hammer it) so i had a buddy drive behind me on the highway today and i floored it. he said he saw a whitish smoke. (and it was gone when i let let off) can anyone help?

[Black Horse]

Firstly you need to determine what the white smoke is. Is it blueish white and smells like oil? Or is is white smoke that has a sweet smell (anti-freeze).