S60 white gray smoke with heavy misfire video included

Pre emission s60 12.7 no problem starting with slight smoke that burns your eyes in cold weather. It idles fine but as soon as i get on the throttle it will misfire really bad with popping sounds. This happens only when it's cold during summer no issues at all. I have been debating timing issue what do you guys think no power loss once warmed up trucks runs good with plenty of power
issues

 

It has never done this in 7 years i owned

 

Not sure but i think it's dumping alot of fuel and it's unable to burn until fully warmed. This will also happen while driving if temp starts dropping really low and i get on it will stumble smoke then clear out

 

No once it starts it smooth untill i give it gas seems like misfire on most cylinders

 

No this year is the first its 2002 s60 12.7