http://img193.imageshack.us/g/oblivion201012022117536.jpg/
I've taken screenshots of my problem rather than just explainign it. That single white speck on the bed randomly appears, and there are usually three or four, if not more. Usually it appears on shadows. The stretching appears with terrain and character models and flesh. Please can anyone help? I can't figure out what graphical settings are causing this. My graphics card is powerful and new. This shouldn't be happenings.

I love Oblivion and this is making the game practically unplayable.