Why is my rebuilt 2003 honda atv engine still blowing white smoke?

[tonywjr]

Rancher 350ES, new crank, new bearings, new oil pump, new clutch, new cam, new cylinder sleeve bored to 50mm, new piston and rings, head rebuilt (COMPLETE valves,springs, etc.) less than 100 miles before, new piston pin. Took the bike out after rebuild and it ran for about 5 miles then started smoking like mad. Throttle in lower gears smokes out the area then high rpm's reduces but doesn't eliminate the smoke. When at idle it will smoke like hell. I am into this bike for to much money to turn back. This problem is what caused me to start the rebuild in the first place.

[Psycmixer]

Water is getting in it. if you did not do the rebuild take it back to the one who did. white smoke with no smell is usually waterblue or grey smoke with and oily smell is oil, You have a crack somhere.