Somebody please help, I was driving my car(86 Iroc z28) kinda hard but not realy. I noticed white smoke out the rear so i pulled over, it looks like tranny fluid is leaking on the cataylic converter. Looked at the dipstick and it was almost empty. What COuld it Be ??????????

 

I would guess its the rear housing seal the part where the driveshaft slides into the tranny. The tranny probably isn't dripping onto the cat because of its location but while your driving the spinning of the driveshaft is probably slinging the fluid onto it.

Have you gotten under it yet to check it out? If not crawl under your car and see if fluid is on the floor pan up where the driveshaft and tranny join. If so it's the seal.

 

Uh oh, blew the front seal.

 

My leak was damaged transmission cooler lines. It'd leak and blow back on my cats, which created a lot of (embarrassing) smoke when I stopped moving.