1996 Lincoln Town Car starts then stalls

[Ed Hall]

When the engine is cold, my 1996 Town Car (with 150k miles) starts then promptly stalls. It just recently started doing this and no CEL has appeared. It usually takes 3 starts before it'll no longer stall. Depressing the accelerator pedal while starting doesn't seem to prevent it from stalling. It just causes the engine to race for a few seconds then it dies.

 

[slowmkviii]

My firs gues is fuel
Watch the fuel pressure when its doing this
(Tape gauge to windshield)