When on shooting mode, camera shows no picture

Have you tried replacing the card with a blank one, so there is space for the camera to move images to ?

Copy all the photos from the card onto your computer if you haven't already done so. Put the card into the camera and format it. From now on, format the card each time you finish downloading pictures to the computer instead of simply erasing the pictures you don't want.
Repeated shooting and erasing will inevitably lead to this problem. Formatting prevents it.

First, it sounds like your mode dial is set to "clipboard". While it is, with no card in the camera, press the delete button to erase the clipboard memory. Then, set the mode dial to normal picture mode. Still, with no card in the camera, press the delete button again to erase anything from the internal memory of the camera. Then, insert the card and it should work properly.

Is your card old or very full of pictures? Is your card "cheap" and slow? Download your pics to your computer and then format the card in the camera to completely erase and optimize it...see if that helps.

Press the Info button to bring up the Information display. Press the <i> button to place the cursor in the information display. Highlight the current release mode and press OK. Select the Continuous mode and press OK.

This lets you shoot at up to about three frames a second, depending on the shutter speed, noise reduction settings, and autofocus settings. You cannot use this with the flash.

The camera will shoot pictures as long as you hold down the shutter release button (until the buffer and/or memory card fills up). As you shoot, the viewfinder will show rNN where NN is the approximate number of further pictures you can shoot until the buffer fills up. In JPEG mode you should be able to take a hundred pictures before the buffer fills. The number will be smaller in RAW.

In AF-S and AF-A, the camera will not shoot the next picture until focus is acquired, so when shooting moving subjects or panning the camera, you may not get full speed. Even in AF-C, the camera may "hiccup" occasionally.

After downloading to your computer, format the card in the camera to completely erase it.

If you are using an SD card for the memory, there is a small, locking switch on the side of it. Slide it in the opposite direction to where it is now, and you should be able to shoot and erase again.

Have you tried formatting the card which erases almost everything?

You can add memory to your camera by purchasing an xd memory card.
Compatible cards
xD-Picture Card (16MB – 1GB)
There are two ways to record the pictures you take with this camera.
Recording pictures to the internal memory
• Pictures are recorded to the internal memory, and when the number of storable still
pictures reaches 0, you must connect the camera to a computer to download the
pictures, and then erase the pictures from the internal memory.
Using an xD-Picture Card (optional)
• Pictures are recorded to the card when inserted in the camera. When the card is
full, you download the pictures to a computer, and then either erase the pictures
from the card or use a new card.
• Pictures are not recorded to the internal memory when a card is inserted in the
camera. Pictures in the internal memory can be copied to the card using the
[BACKUP] function.
g“BACKUP Copying pictures in the internal memory to the card” (P.25)
“The card” (P.60)
Number of storable still pictures and recording length of movies
Still pictures
Movie
• If you use a non-Olympus card or a card used for another application, such as for
a computer, the message [CARD ERROR] is displayed. To use this card with this
camera, use the [FORMAT] function to format the card.
g“MEMORY FORMAT (FORMAT) Formatting the internal memory/card” (P.24)
Additional shooting tips and information
Increasing the number of pictures that can be taken
IMAGE QUALITY Image size
Number of storable still pictures
Internal memory Card (128 MB)
SHQ 2816 × 2112 2 25
HQ 2816 × 2112 6 76
SQ1 2048 × 1536 8 108
SQ2 640 × 480 60 726
IMAGE QUALITY Image size
Remaining recording time
Internal memory Card (128 MB)
HQ 320 × 240 (15 frames/sec.) 32 sec. 6 min. 37 sec.
SQ 160 × 120 (15 frames/sec.) 2 min. 8 sec. 26 min. 28 sec.

In black and white? If there is a red and yellow, white and yellow, or red white and yellow on the tv end make sure the colors are matched correctly. Try on channel 3. Try on another tv. Is the camera from a foreign country? (Might be PAL, not NTSC.) If so, there should region menu in the camera to change this. For video, you have to shoot it in the mode of the TV you want to watch it on. North American TV's are NTSC, so shoot with the camera in that mode. If you shoot in PAL mode, a north american TV will show a black and white rolling picture. Just about everywhere else in the world is some version of PAL.