"Shift Solenoid B" error

Hey All - Sorry for the long post...I have an intermittent problem with
my 1996 T-100 SR5 3.4L v6 Automatic, 203,000 miles. Owned it since
14,500 miles.

Scan tool says "Shift Solenoid B", as well as "Slow o2 sensor
response." My understanding is that a solenoid is either good or bad,
not intermittent. I've already ordered a new front o2 sensor. No
check engine light, probably because it's burned out (does not show on
start-up, either).

On occasion on starting from a stop, it will run through first gear
as normal, except revving up to 3500-4000 rpm's, then shift into
what feels like a sluggish 3rd gear, kind of bogging down (even
though it's about 2000 rpm). No matter how hard I step on the
accelerator, it will slowly gain speed & rpm's. When at a freeway
speed of 60 mph, the tach will be around 2700, and will drop to
around 2350 when I turn OFF the overdrive button, and increase again
when I turn it back on!

It seems I can sometimes temporarily correct the problem on the
freeway by tapping the brake pedal. It will also sometimes correct
when I come to a complete stop, then start out again. I can go a
week without this problem, then have it for a week or more. Ambient
temp and engine temp seem to have no affect.

While it's having this problem, I can manually shift into 2nd gear
and hit the gas, and the engine revs like it is in neutral. If I
start out while in 2nd gear, it will rev up in 1st, then there is no
power transfer when it shifts into the non-existent 2nd.

Any ideas are accepted with a big thanks in advance!

rangervig