THE waves were over 20 feet high and the winds stronger than 60 miles an hour on that eighth day at sea. ''The sun was setting in the west and we were sinking in the east,'' Jon Craig Cloutier said.
Mr. Cloutier, a film maker, was one of nine persons aboard a 97-foot schooner, the John F. Leavitt, on its maiden and final voyage. The ship was 187 miles off the coast of Long Island on Dec. 29, 1979, and night was approaching when the nine aboard and 3,600 feet of film were saved by two helicopters from the 106th Aerospace Rescue and Recovery Group.
A Russian trawler had received the ship's call for help and sent an S O S to the New York National Guard in Westhampton. ''Two large jolly green giants appeared in the sky,'' Mr. Cloutier said. ''The last thing to go into one helicopter was my film.'' Fifty thousand dollars worth of photographic equipment was left on the ship.
The film from the ship, combined with the 100,000 feet of film Mr. Cloutier had shot in the previous four years, will have its Long Island premiere at the Huntington Community Cinema at 8 P.M. on Tuesday and Wednesday. ''Coaster: The Adventure of the John F. Leavitt'' was the 1982 American Film Festival blue ribbon winner for best feature documentary.
The 90-minute color film follows the construction of the twomasted handcrafted schooner from the day the keel was laid nearly four years earlier to its end at sea after one hour of sunshine, three and a half days of calm and four and a half days of squall.
The boat was the dream of Ned Ackerman, a former English teacher, who thought a wind-powered wooden schooner, modeled on those built a century before, could combine his love of sailing with a way to make money. Mr. Ackerman was carrying canning chemicals and lumber to Haiti on the ship's first voyage.
No cargo-carrying schooner had been built in the United States since 1938. The $350,000 ship was named after John Faunce Leavitt, who had written a book on the last remaining wooden whaling ship, the Charles W. Morgan.
Mr. Cloutier spent seven and a half years in all on the film. ''The hardest problem was cutting the film so it would have an appeal to a wide audience,'' he said. His film is about the sea and a man fulfilling his dream, even if the dream's end is not the one that was planned.