94 540ia check engine light came on

hello, been raining for a week... car runs fabulously, went down a hill and stopped at a light, then the "check engine" light appeared and stayed on.
Next day I started car and it stayed on for about 5-10 minutes then went out, does that mean my problem is no longer a problem? I thought the light stayed on until it was reset or fixed! The car is running as usual, fast and smooth. any input is appreciated! car is also for sale in Montreal Canada pics: http://www.cardomain.com/id/skullfracturebmw
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I don't think that your problem is "fixed". You need to do what is called a "stomp test": http://www.bmwe34.net/e34main/trouble/engine_codes.htm Write down the codes (like morse code)
here is a snipet of detailed instructions: First of all, there are more than just 13 fault codes there are 56. Perform the "Stomp test"; here is how to perform the stomp test and how to read the code. Turn the ignition key to on but do not start the engine. Quickly, fully depress and release the gas pedal five times within five seconds. Flash codes- Upon successfully stomping, the check engine light will begin to flash a series of digits. For example, Flash pause Flash Flash Flash pause Flash Flash pause flash would be code 1321. the pattern will then repeat, I'm not sure how many times though. Once you have your code, look it up in the Bentley manual (Bentley also covers this procedure on page 100-9.) If you do not have a Bentley, post your code and I will look it up in my Bentley. ...end of snipet
Go to http://bimmer.roadfly.org/bmw/forums/e34/search.php look for the search feature on the top right hand side or... Go to http://bimmer.roadfly.org/bmw/forums/e34/search.php search for "stomp test" I have seen these codes posted on some website can't find it now. Anyway, the stomp test is your first try me.
SharkmanBMW wrote:

stopped
went
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I will get on that tomorrow, thanks for your info!

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