i have an 83 Caprice with a stock 305. When I press on the gas I hear this loud squeeling noise. Ive also notice that it only really did it in the morning when its cold... Can anyone please tell me what the problem is.:banghead: Its pretty embarrasing haha.:uhoh:

It's called a loose fan belt. One of your belts has stretched over time and needs to be tightened or replaced.

Mine does this as well, and i have the same year as you too. it is just on a cold start too, i replaced my belts but they still do it, so they probably just need to be tightened. i was told it could be the alternator belt too.