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thanks guys. good to hear that I didn't damage my car. got me kind of worried for a second. I usually don't have any problems on my old car and I red line it all the time( but not stay in red line for couple seconds)
My guess is that the smell was your brakes. The pad compound is pretty soft, for better grip, but they get hot easy under extreme driving. They will smell very much like a burnt clutch. It is a very common thing.