tranny problem

95 4.6 L V8, was on my way to work this morning and transmission just stopped pulling all together. Towed it home and now I can get in it and it pulls for a few minutes before it quits pulling again. When it stops pulling I can turn the engine off and restart and it will begin pulling again. When this happens there is a wining/clicking noise comming from the bellhousing area. Could it be the torque converter?

Could it be the torque converter?
Yes, it could be the torque converter.

Look here for more info -
Ford Overdrive Transmissions 101 (http://www.tccoa.com/articles/tranny/transmission/index.shtml)
Bulletins for 1995 Ford Thunderbird V8-281 4.6L SOHC (http://www.tccoa.com/articles/misc/tsb/tbird/95-46.htm)

Got it fixed, the filter was so clogged that water wouldnt even run through it. Changed the filter and fluid and she's up and going again. Im guessing that the noise was the pump starving for oil. I know that the trans has alot of wear so an upgrade won't be too far away. Thanks for the help