HE KNOWS HIS LIFE LIKE THE BACK OF HIS HAND.

Byline: Bob Strauss Film Critic

Screenwriter-director Christopher Nolan takes enormous chances with his second feature, ``Memento.'' They all pay off wonderfully.

Told in reverse sequence, from the point of view of someone who can't remember anything that happened 15 minutes ago, it's a noirish mystery that calls the very nature of what we perceive as reality into question. And along with all of its fascinating psychology, ``Memento'' is also relentlessly suspenseful and, at perfectly timed intervals, outlandishly funny.

Guy Pearce, the intense English/Australian actor from ``L.A. Confidential'' and ``Adventures of Priscilla, Queen of the Desert,'' stars as Leonard Shelby, a onetime insurance investigator turned ultimate lost man. Ever since he was knocked unconscious while trying to prevent his wife from being murdered, Leonard has suffered short-term memory loss. He recalls his life up until the moment of his injury, but since then he's had to write himself notes or, for the really important stuff, tattoo reminders on his flesh of what he needs to know to get going again.

Leonard lives in a low-rent motel along an anonymous strip of Southern California road (the film was shot in Burbank). The desk clerk, who knows about his condition, enjoys mildly messing with Leonard's mind. But he may actually be the most benign of Leonard's regular acquaintances. The other two, a sleazy detective called Teddy and a seemingly sympathetic but possibly fatale barmaid named Natalie (Joe Pantoliano and Carrie-Anne Moss, both of ``Matrix'' fame), put a lot of effort into helping Leonard on the one quest that keeps him functioning: finding his wife's killer.

But are these two just using the driven, damaged man for their own nefarious purposes? And could Leonard's obsession really be based in something else, far more alarming about his character?

Working from a short story written by his brother, Jonathan, Nolan weaves a web of constant surprises and not-always-reliable revelations. Moving backward from the opening shots of a murderous confrontation, each sequence gives us a little more of the lead-up to what we've just seen, drops (sometimes deceptive) clues as to who's who and why Leonard is the way he is and has what he has. Some of this is highly amusing, much of it is heart-wrenching and all of it makes a viewer feel voyeuristic and complicit in Leonard's tribulations.

Much of this is achieved by the intensely visual nature of the film's storytelling. Nolan, essentially, invents a different way for us to look at a movie. Leonard sees everything with new eyes, and we do, too, even as many items and scenes are repeated numerous times. His Illustrated Man torso is itself an object of endless fascination, with messages etched both forward and backward, but uniformly cryptic. Big applause to emerging cinematographer Wally Pfister, who keeps his images anchored in everyday reality yet constantly filled with dread.

But Pearce's performance is what truly puts ``Memento'' across. Pragmatic in his moment-to-moment presentation, Pearce always seem to know just how much pathos, paranoia and panic to let loose at any given time. He manages to evoke immense empathy for Leonard without ever begging for sympathy and takes us to dark places with a feeling deliciously balanced between choking and laughing. ``Memento'' is one to remember, all right.

``MEMENTO''

(Rated R: violence, language, nudity)

The stars: Guy Pearce, Carrie-Anne Moss, Joe Pantoliano, Stephen Tobolowsky.

Behind the scenes: Written and directed by Christopher Nolan, based on Jonathan Nolan's short story. Produced by Jennifer and Suzanne Todd. Released by Newmarket and Summit Entertainment.

Running time: Two hours.

Playing: Sunset 5, West Hollywood; Rialto, South Pasadena; Monica, Santa Monica.

Our rating: Four stars

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Photo: Guy Pearce plays a man without memories in the noirish thriller ``Memento.''