Update: I messed with the carb a bit, here's my observations:
I had the c-clip on the needle at the top notch (leanest as I am in Denver) The motor was running OK, 4 stroking a little bit on the bottom but real zingy at the top, the only problem was there was no presence of oil on the plug.
So, I moved the c-clip down 2 notches as well as cleaned out the jet and the motor was 4 stroking through all rpm's and running real bad. After this I checked the plug, and there was just a tiny bit of oil on the plug but it was still way white. Eventually, the motor started surging and then completely bogged down where I could not ride it anymore