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HELP with M-46.....I don't understand !!!!!!!!

I just purchased a 86 240 Dl 4 speed with overdrive...I knew it had transmission problems when I bought it for $ 100.00...Here is what it does...It shifts into reverse BUT it doesn't move , the tranny gives out a slight whine and it tries to move...The Overdrive works sometimes and ONLY when cold and it shutters when it is trying to engage...I checked the fluid...I took out the upper tranny bolt and NOTHING came out...I added 2 quarts of fluid before it was full...I don't understand what reverse and overdrive have to do with each other...I have read that there is a O/D light on the dash...Could someone PLEASE tell me where it is ???

ANY help would be appreciated.....


THANKs..............Dave

I signed up but haven't received my info yet...






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