my C4 transmission leaks transmission fluid around the bell housing area after sitting for a week or two but shifts fine...what could be leaking?

 

Leaking from the bell housing area, if tranny fluid, then torque converter, if engine oil then rear main seal, if coolant then freeze plug or water pump/tstat.

 

its a 289 ci ford in a 40 merc convertible

 

There is a front trans seal where the torque converter indexes with the front pump. If the bushing in the pump housing is worn it will also destroy the seal..
Many times just replacing the front seal is enough to correct the leak. Trans has to come out and converter removed to replace seal. Not that difficult to replace that seal.