Gunnar , you were right on the money..
After spinning my wheels, re formatted the hard drive[lost everything to boot..no pun intended]...same problems...Bought a new hard drive, and could'nt load the operating system or restore files..continued to re boot with the blue screen[boo boo notice]..

After an extended"pull my hair out" time...I found out that one of the ram chips was bad, thus kicking off and forcing XP to re boot...exactly what Gunnar suggested..

Thanks to everyone that responded to my call for help..