Remember two weeks ago when "Star Trek II" set a new record for the biggest initial weekend in film history? Well, never mind. No sooner had Kirk and Spock and Khan and their ilk made such an impressive box office debut than along came a little green humanoid to show who's really the king of the galaxy. The little guy is, of course, Steven Spielberg's title creature from "E.T.," and just as "Star Trek" has slipped from week to week, "E.T." has steadily picked up steam.

In fact, every film in the country has showed declining grosses for the past two weeks except Spielberg's spaceman tale, which now owns the new record for the biggest two-week gross in history: nearly $45 million in 14 days, a jump of more than $2 million over the previous record holder, "Superman II" (which was playing in almost 300 more theaters than "E.T." when it set the record).

"E.T." has broken more than 85 house records to date, has presumably been largely responsible for a 10-point jump in Universal stock, and looks as if it's a shoe-in to be the biggest film of the summer season. Not that the season was doing all that badly to begin with--between "Rocky III" and "Star Trek" and "Poltergeist" and a few others, the first films to be released this summer have done well enough to put the movie industry into a state of mild--or maybe not so mild--euphoria. "All we've got to worry about now," says one industry source, "is whether everybody's gonna see 'E.T.' five times instead of going to the rest of our movies."