transmission??

I have a 1991 LX 5.0 convertible with AOD tranny. A few weeks ago my AOD started shifting. Prior to this the only gears were reverse and second.

When the car is cold the tranny will NOT shift. However, after about 5 minutes running the car shifts great. Fluid is nice and red and filled correctly.

What could cause the tranny NOT to shift when cold?

Thanks

Larry