Oh oh, tranny problem (auto)

[Max <mpalmars@axxsys.com>]

For the last month or so the automatic tranny in my '87 5kcst has been
acting up.  Her is a description.  In the mornings when the car is cold
it is hesitant to upshift and will sometimes run at up to 4-5 k rpm's
for 20 -40 seconds before shifting into second gear and then the same
thing with third gear.  Since yesterday the shifts have become
increasingly more sluggish, won't catch the gear for two to three
seconds.  Is this a bad torque converter, bad disks, or something less
troubling?  Anyone, anyone........

Max