"start launch up repair
It actually says "Launch startup repair". So have you tried running startup repair? If not, do so now.
Recovery should only be used as a last resort when all the alternatives fail to fix the problem.
But If you do need to use factory recovery, instructions are here: http://community.acer.com/t5/Knowledge-Base/Reloading-your-Acer-computer/ta-p/45793