I have a 1995 F-150 V-8, 5.0 with about 164,000 miles on it. The transmission or the torque converter is acting up. When I get to around 45 mph or so, and try to give it gas the truck acts like I have it in neutral and the engine races, so I have to let the truck slow down to around 35 mph or so. It also made a hard grinding sound and almost stopped moving. The over drive light is flashing all the time now. Before it did this today, on ocassion it would act like it was stumbling while driving up a grade, but nothing as bad as today. I need some help.
Thanks,
David

 

Sounds like your direct drum clutches are slipping. Sad to say but sounds like it needs a rebuild. Temporarily you can try "Lucas" transmission fix additive, it helps pretty good for slippage.