Hey guys I'm new here, from Northern IL.
My car is a 1978 Delta 88 Royale with a 5.7 and a TH350.


On to my problem.
I started my car this morning and after I pulled out of the driveway, I stupidly put my foot to the floor on a cold engine. After about 5 seconds of acceleration I lost all forward gears. D,*, and L now act as neutral. Reverse works, and luckily I was able to put it back in the garage.

After I lost the forward gears I pulled over and took out the trans fluid dipstick, smoke came out and there was not much fluid in there, it covered about 1/3 of the cross-hatch area.

So is it time for a rebuild? I bought the car in October and have no idea the last time the transmission was serviced, the car has 165k miles.

I just realized this section is for newer cars, hopefully someone will have some knowledge anyway.

The TH350 does require the correct amount of fluid or slightly over full for shifts to happen well when cold. Have you topped up the Dexron fluid & see if anything happens?
You may have spun the sun gear and that will require a rebuild with clutch packs etc.
Old school cars should be warmed up a bit before driving off and never hard until fully warm