Got Milk?

on my 86, when i take of the oil cap there is a cream milkey, colored gue, any one know what it is?

its water.it could be from condensation.That happens if you don't drive it a lot or you have a bad thermostat and the engine doesn't get hot enough to evaporate it.Or it could be a sign of an internal engine problem like a leaking head gasket.cracked block or head.If its just a little bit and its only on the cap its probably no big deal but if you are losing coolant and or the oil looks milky,you have more serious problems.

change the oil, replace the fill cap, make sure coolant level is right. drive for awhile and recheck! if still milky, mostlikley internal problem ...head..gasket ect...

change the oil, replace the fill cap, make sure coolant level is right. drive for awhile and recheck! if still milky, mostlikley internal problem ...head..gasket ect...
during this process tighten the valve cover bolts, anything over 1/2 turn might of contributed.

there is alot on the under side of the valve cover, and whan i mean alot, there is a shit load of it. could it be other places?

sure, anywere oil is at. You are sure to se it if you change to oil your self. Sounds like a bad head, or head gasket.