The film begins in a hospital where Beth (Angela O'Neill) is telling a woman, who we later on discover is the sorority housemother Mrs. Lawrence (Mary Anne), her story which is soon unraveled. It all starts when Beth enters the Theta Omega sorority. While all this is happening, we see a man (John C. Russell) tossing and turning in his sleep on a bed in a mental institution. There's some sort of psychic link between the man and Beth as he sees Beth enter the sorority house, but Beth is a little girl. When the man gets a closer view of her face, he awakes immediately in hysterics, causing two orderlies to come in and restrain him.
Meanwhile, Linda (Wendy Martel), Sara (Pamela Ross), and Tracy (Nicole Rio) stay at the sorority house during other sorority sisters' Memorial Day weekend vacation. Beth's aunt has just died, making Beth very depressed. Not to mention, she's having nightmares of a man stalking her in the sorority house with a hunting knife, only it's not furnished like the sorority. She encounters three little girls who warn her about the house as well. Troubled by her dreams, Beth seeks the help of Linda, who has a major in psychology. Suggesting that a man with a knife might mean Beth has a fear of sex, the girls don't know how wrong they are.
Escaping the mental institution, the man, whose name is Robert Henkel, murders a shop owner just for one knife (!), then stealing a woman's car and proceeding to the sorority house to hunt down Beth. Why does this man want Beth dead? The shocking truth is revealed as the story unfolds and the girls and their boyfriends struggle to stay alive.
Combining surrealistic imagery with sublime terror, this film creates dream sequences almost as bizarre as a David Lynch film, leading up to the frightening incidents that insue. The plot is very similar to Halloween (1978) and Halloween 2 (1981), but the film shouldn't just be labeled a ripoff, but instead be recognized for its non-stop entertainment involving thrills, chills, and action.