Torque converter issue?

'99 4x4 with automatic, 150k miles, 22 mpg overall

Once every few months or so, when I back out of the garage, and then put it in Drive, it will act like its in neutral and rev up for a couple of seconds, then grab all of a sudden and behave normally.

I'm using OEM non-synthetic tranny fluid, and the level is halfway between 'cold' and 'hot' marks on the stick.

Is this normal? Potential problem with torque converter or tranny?

 

I doubt its a converter issue . Double check that fluid level on both sides of the stick with the engine running in park after the trans is warm.
The first thing that comes to mind is low on fluid . There are other possibilities but start by checking fluid to confirm.
Got some info here that may help
http://www.tacomaworld.com/forum/te...warner-340-series-transmissions-write-up.html

 

Hey Gearcruncher, thanx for the quick response. I'll do that fluid check tomorrow. I hope thats all it is.