My view
Plot
The film starts with a naked figure sitting in a tree in a mental asylum. Nurses come out to him, to try to coax him off of his perch, using a plate of raw fish to persuade him to come down. As the nurses get him to put on some overalls, it is shown that he has a tattoo of a phoenix on his chest.
Years ago, Fenix spends his time performing as a "child magician" in a circus run by his father Orgo, the knife-thrower, and his mother Concha, a trapeze artist and aerialist. The circus crew also includes, among others, a tattooed woman, who acts as the object of Orgo's knife-throwing feats, her adopted daughter Alma (a deaf mute mime and tightrope walker whom Fenix is close to), Fenix's dwarf friend Aladin, a pack of clowns and an elephant. Orgo carries on a very public flirtation with the tattooed woman, and their knife-throwing act is heavily sexualized.
Concha is also the leader of a religious cult that considers as its patron saint a girl who was raped and had her arms cut off by two brothers. Their church is about to be bulldozed at the behest of the landowner, and the followers make one last stand against the police and the bulldozers. A Roman Catholic Monsignor arrives to attempt to resolve the conflict, but after he enters the temple to inspect it he deems it sacrilege and angrily leaves in disgust, so the demolition is carried out. Fenix leads Concha back to the circus, where she discovers Orgo's affair, but Orgo, being also a hypnotist, puts Concha in a trance and rapes her.
The circus elephant dies, much to Fenix's grief, and a public funeral is conducted, in which the elephant is paraded through the city inside a giant casket. The casket is then dropped into the city dump, where scavengers open it up and proceed to carve up the elephant and take away the meat. Orgo chides Fenix for crying "like a little girl" and tattoos a spread-eagled phoenix onto his chest, identical to the one on his own chest, using a knife dipped in red ink. This tattoo, Orgo says, will make Fenix a man.
Later on, Concha, during her trapeze act, sees Orgo and the tattooed woman sneak out of the big top. She chases after them and, seeing them sexually engaged, pours a bottle of sulphuric acid onto Orgo's genitals. Orgo retaliates by cutting off both her arms (much like the girl previously venerated). He then walks into the street and slits his own throat. Fenix witnesses this, locked inside a trailer. He then sees the tattooed woman drive off with Alma.
Back in the present, Fenix is taken on a trip out of the asylum to a movie theater along with other patients, most of whom have Down syndrome. A pimp intercepts them and persuades them to take cocaine and follow him to meet an overweight prostitute. Fenix then spots the tattooed woman, who is now a prostitute, and becomes consumed with rage. Back in the asylum, Fenix's armless mother Concha calls out for him from the street and he escapes by climbing down a rope from his cell window. The tattooed woman is shown trying to prostitute Alma, who runs away and sleeps on the roof of a truck. The tattooed woman is then killed by the hands of an unseen assailant.
Fenix and Concha go on to perform an act whereby he stands behind her and moves his arms so that they appear to be Concha's arms. But Concha soon starts to use her son's hands to kill women whom Fenix is interested in, including a young performer and a cross-dressing wrestler. A dream sequence subsequently shows that Fenix has killed many more women, all of whom haunt him.
Alma finds Fenix and together they plan to run away from Concha. She tries to force Fenix to murder Alma as well, but, after a struggle, he manages to plunge a knife into Concha's stomach. She vanishes, but not before taunting Fenix by saying she will always be inside of him. Through a quick series of flashbacks, it is revealed that Concha in fact died after being maimed by Orgo, and that Fenix has kept a mannequin of his armless mother for performing on stage and at home, which also now appears in reality to be a thoroughly dilapidated house. He destroys the home-made temple and throws away the mannequin with the help of his imaginary childhood friends, Aladin and the clowns.
Alma proceeds to lead Fenix outside the house where police are waiting and order them to put up their hands. As they both comply, Fenix watches his own hands in awe as he does so. Fenix's realization that he has finally regained control of his hands brings him joy and peace.
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