Black screen and blinking cursor

Okay, Larry hasn't turned up.

Press F10.

From the choices, normally;
USB
CD/DVD ROM
Hard Drive C:\

Choose hard drive. Sometimes it will say something like 'WD (for Western Digital) 75662 (model number) 500mb (size)

It should then boot normally.

I would suspect a glitch in the MBR/software, a black screen with a white cursor in the top left, BUT, Try this , when you shut down always unplug, remove battery when you use at home connected to AC. At boot in BIOS, BOOT sequence, change to Boot from HDD first. Also remove DVD's, CD's from the DVD/CD rom drive, if the machine has boot from DVD/CD rom as a default, it will try to read the disk in the drive first, delaying a switch to second HDD boot. This is a general idea in the Boot sequence procedure: http://helpdeskgeek.com/how-to/change-boot-order-xp-vista/

it appears there is a high level of data corruption on your computer's hard drive sadly you must reinstall the windows OS however i do recommend using Ubuntu to access your files while in live cd mode by clicking try ubuntu or use mini-XP (a mini version of windows xp) and use an external drive or mega.nz (mega.nz for free can store your files up to fiffty gigabytes)

You don't say what Windows are you using.
Anyways, it seems like you have a corrupted BOOT problem.
On Windows Vista and Windows 7, you can insert your Windows installation CD, and choose the "Repair my pc" option.
Windows will do it automatically fro you, and you'll be up and running in a couple of minutes.

Dont forget to rate this answer if it helps.

go to acer website ...go to dowloads section..select ur model ..n download latest bios

So.. you can select safe mode? Or you turn it on and it is resuming into the blank screen?

If the latter. Unplug the power, pull the battery out for 20 seconds or so. Then put it all back together and try booting up.

That blinking cursor is the way in which the BIOS is telling you that Windows is missing - its most critical, core files have been corrupted beyond repair. The only thing you can do is to reinstall using the recovery cd or your own Windows install disk.

If possible try changing your cd rom or dvd rom for cd use check it is recognised in bios and change bios to boot from it,if you still get the black screen with flashing cursor ,could be os is missing due to hdd failure

Windows has probably become corrupted,,,try using you restore cd,,,or starting in safe mode.