Totally normal condition in a stock 727. Converter fluid level slowly drains back into the pan as the rig sits idle. Anytime the engine is running, the trans fluid pump is circulating fluid, however with the gear selector in park position, fluid pressure is allowed to bleed off at approximately the same rate that it builds, so a converter that has drained from sitting will fill very slowly if at all. This is by design to reduce engine load while idling, and is also the reason why fluid level is to be checked only in neutral for an accurate reading. Moving the gear selector to neutral for at least a minute while warming the engine during initial start up will allow the converter to fill much faster. This is preferable to the potential shock load that could be placed on drive train components in attempt to force-fudge things into motion. As mentioned already, the valve body can be modified with a transgo tf-2 shift kit which will prevent the overnight drain back from the converter.