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Makes sense to me. My problem did turn out to be the cable. But I also had a problem inside of the shift arm assembly. The bolt that secures the shift lever inside the shift arm assembly was sheared off. This allowed the shift lever to rotate more than it should and thus the car would not go into the gears 1, 3 or 5. Do not confuse the shift arm assembly mounted on the transmission with the shift mechanism inside the car. So if you find that your car will shift into some gears like 2, 4 and reverse only or 1, 3 and 5 only you should check this mechanism rather than junking the transmission or taking it to a repair shop. It is easy to remove the cover and check it without removing the transmission. However the cover is secured with liquid gasket so you will need to hit it to remove it.
Hope this helps someone.
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