Need 924 cat converter Help, Please!!!!
 

I have an 81' Porsche 924 (non-turbo) that I have been working on for a week now. Originally I was going to replace the cat. converter, but after getting it off and inspecting it, decided it just needed new gaskets. None of the parts stores around my house have the gaskets I need, so I opted to use the silicone gasket maker (red rtv high temp-650) as recomended by auto store employee. Well, I got the thing put back on, and after turning it over there was a cloud of smoke coming from the gasket site. I though it could be some of the wd-40 I used to loosen the bolts burning off, but after letting it iddle for 20 minutes, the smoke continued to pour out. So, finally, my question:
What is causing the smoke?
Could it be the silicone gasket maker or do I just need to tighten the bolts a lil' more? Please give me some feedback...need my car running in 2 days to get to school. Thanks!