Y By John Stark ' OU'VE GOT TO HAND it to Michael Caine, or not hand it to him, as the case may be. He really went out on a limb to make a horror picture entitled "The Hand," in which he plays a cartoonist who loses his right hand in an automobile wreck. Caine's severed hand then goes on to lead a life of its own, strangling innocent people and all that. A very callous hand, to be sure. The movie, at the Alexandria and St Francis, is ludicrous and silly without any charm. Writerdirector Oliver Stone has failed to' clarify or make interesting the motivation behind the hand's revenge. Nor has he spun a good yarn. He's also failed to let lis know how the hand manages to follow Caine across the country. Does it hitchhike, or carry American Express? This knuckle-brained movie features the phoniest looking hand imaginable. It's bigger than John Matuszak s (the hand, that is). The hand was designed by Carlo Rambaldi, who engineered King Kong's feely hand in the Jessica Lange remake. The press kit says Rimaldi's a genius (press kits tend to hyperbolize). The thriller, based on a book called "The Lizard's Tail," runs into trouble very early. While Caine is driving with his wife (Andrea Marcoviccil, with his hand out the window, their car is sideswiped. After Caine loses his hand, we get to watch him wave his mangled Michael Caine about to be attacked by his own hand REVIEW highlights "Tho Hand," from Orion Pictures; produced fay Edward Pressman; written and directed by Oliver Stone; based upon the book. "The Lizard's Tail." by Marc Brandel. photography by King Baggot; starring Michael Came. Andrea Marcovicci. Annie Mcnroe, Bruce McGttl and Viveca Lindlors. Came plays a cartoonist who loses his right hand, which takes on a hie its own. killing people and all that. A silly, ludicrous story that's not even tun on a schlock level. Top admission, $4 50. At the Alexandria and St. Francis. stump into the camera, blood spurting everywhere. What a shame to see an actor of Caine's stature reduced to such as a trashy movie. Don't give "The Hand" a hand, give it the finger.