Stallone plays the role of a cop called Marion Cobretti, known as Cobra, with the LAPD. He is working with the “Zombie Squad”, dealing with hostage situations and high profile crime. When he busts a hostage crisis, killing the gunman, the criminal mentions something about a ‘New Order’- propagated to make the weak, weaker, and the strong, stronger. Their aim is to ensure that only the powerful, rich and strong inherit the earth, and everyone else perishes, whilst they prosper. Cobra comes to face harsh criticism from the media and even the LAPD, who think he is violating the rights of individuals and endangering ethical professional principles.
Unknown to the media and the police department, a series of crimes, though unconnected, have been committed by a supremacist group, working to leave its mark on the community. At the helm of The Order is the Night Slasher (Brian Thompson), who targets a model Ingrid Knudsen (Brigitte Nielsen) - the only witness to a few murders committed by the group.
When she is placed under the protective custody of Cobra and his partner, they face The Order’s ire- confirming Cobra’s hunch that the killings are not the work of one person, but an entire gang! This theory is, however, trashed by his superiors at the LAPD. Afraid that she might be killed, Cobra helps Ingrid relocate to the countryside, where the two fall in love. Unfortunately, their cover is blown, as members of The Order have infiltrated the police force as well - and one of the groups ‘leaders’ working with the LAPD, reveals their hideout to the Slasher.
Cobra becomes suspicious of the officer, but does not want him to know that he has caught on to what is happening. That night they stay at a motel and The Order moves in at dawn, surrounding the place, a violent fight ensues, but Ingrid and Cobretti manage to escape in a pickup. When the vehicle breaks down, they abandon it, walking on foot through a lemon grove, seeking refuge in an abandoned steel mill.
Marion has eliminated most of The Order’s members, a handful enter the mill, but are killed - only the Night Slasher remains. In the end, the villain is impaled on a giant hook, dying after Cobra burns him. Detective Monte (Andrew Robinson) appreciates the outcome of the case, but harps about the protocols that Cobra should follow in future - having listened to him enough, Marion pushes him out of the way, riding into the sunset with Ingrid.
The film is based on the novel Fair Game, which was later filmed starring Cindy Crawford and William Baldwin. A must see for the all the loyal die hard Stallone fans, lacks appeal for everyone else though!