Transmission Slipping

[nozleman21]

I have a 2004 22I Riders with 350 Mag and velvet drive trans. We had our first time out on the water and coming out of the hole hard towing a skier the transmission seemed to slip a bit. It felt like cavitation but there isn't any damage to the prob and the keyway looks good. If I take it slow and steady out of the hole it doesn't slip at all. Unfortunately I didn't check the trans fluid when we were out and the boat was warm. Sitting on the trailer with a cold engine the dipstick reads at 1/2 of full. Does anyone know what their's reads cold? Any thing else I should check?
Thanks for the help

[Cek1]

Cavitation has nothing to do with a damaged prop. Just air pocket/bubbles creating a void in the water.

[lee]

Fluid should be high when cold.

[chpthril]

Prop slip is like tire slip when it cant get enough traction.

[nozleman21]

Thx, I took the trains fluid out and it only had 1 quart in it. Is full 1.9qts?