Too Much Carburator?

I've checked the trans fluid in netural (warm) and shows low. I can't help but think the dip stick couldn't be far off. someone I spoke to mentioned a modulator which makes sense because I've seen fluid i thought was oil on the flat part of intake manfold but is probably trans fluid. I can't find the hose connected to the intake he's talking about which he's warned may be full of trans fluid. any thoughts? note its a holly street/strip dominator thanks