Now is the time to shiver with the mysteries of ghosts, goblins, ghouls, werewolves, witches, vampires and wizards. These are not stories for the faint-at-heart - or those who fear bumps in the night and troubled dreams.

Some of my favorite spine-tinglers from old and new lists are:HAUNTED WATERS by Mary Pope Osborne; Candlewick Press, 1994, 153 pages,

$14.95. Mary Pope Osborne is one of the best storytellers around. Her powerful text in this retelling of "Undine," a 19th century German fairytale of a changling maiden, is gripping, indeed.

"A decaying odor filled the air. Eyes seemed to be watching me; eyes as cold and wet as the slime that covered the black tree trunks all around me."

During a mysterious storm, Lord Huldbrand is cast on a secluded peninsula and is befriended by a fisherman, his mad wife and beautiful daughter, Undine. This young woman sings in a foreign language . . . "devastatingly beautiful and sad, the strange song curled through the night . . . seemed to call low cadences back from the sea."

Whenever Undine and Lord Huldbrand are together he is aware of the demon . . . "shrouded in a diaphanous cloak, its face was not human - no lips, no eyes - only black holes in a white mask of skin."

Lord Huldbrand marries the lovely girl Undine, despite the fisherman's warning that she is not his daughter but was left on the doorstep and " . . . the demon began hunting our shore soon after she arrived."

As legend goes, Undine is a child of the deep, and the King of the Sea hopes to preserve her through metamorphosis into a human form.

Osborne's retelling is a spirited story full of magic, mystery and a predictable - albeit not relishing - conclusion. "Haunted Waters" would be a good read-aloud.

GHOSTS, VAMPIRES AND WEREWOLVES: EERIE TALES FROM TRANSYLVANIA, by Mahai I. Spariosu and Dezso Benedek; illustrated by Leszlo Kubinyi; Orchard Books, 1994, 112 pages, $16.95.

Taken from authentic Transylvanian folklore, the 16 tales include wickedness, magic and greed. One of my favorites is "The Six-Fingered Hand," a universal story of a village "fool" who is feared, ridiculed and certainly misunderstood. In these tales, the fool is "different" - either physically or mentally - but is compensated with an uncanny gift or strength. This story's fool, Elijah, has the power of a spirit.

The collectors and illustrator trace their roots to Romania, Georgia and Hungary. The authenticity of the tales is supported by the informative introduction and notes, as well as a reading bibliography. This is a treasure trove of tales, which is a welcome addition to any traditional literature

collection. Other novels and short collections:

HOB AND THE GOBLINS, by William Mayne; Dorling Kindersley, 1994. Taken from Mayne's popular Hob stories, this novel is as clever as "The Borrowers" and all such tiny people who live in the homes of people . . . "If he is comfortable he stays as long as possible."

THE HEADLESS HAUNT AND OTHER AFRICAN-AMERICAN GHOST STORIES, collected and retold by James Haskins; Harper, 1994. These are short, often one-page stories collected by an English professor whose work in African-American lore is well known. The eerie illustrations of Ben Otero add much to this series of stories as does a detailed reading list and author's notes.

Halloween reading wouldn't be complete without a book from Betty Ren Wright. Her recent THE GHOST COMES CALLING (Scholastic hardcover, 1994) is not one to read before bedtime or before purchasing a new home. This is another read-and-shiver story. There are many new Halloween picture books, but my choice this year is Bill Martin's THE WIZARD, illustrated by Alex Schaefer (Harcourt Brace, 1994; $14.95).

With a text of less than 60 words, Martin again has captured the flavor of sound and nonsense that will tickle tongues.

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The Wizard and his assistants - frog, cricket, mouse and pudgy-green gnome - are mixing a brew and having a celebration when something goes awry. As in a similar tale, "The Sorcerer's Apprentice," the Wizard conquers the bubbles amid "I tumble! I crumble! I alley-oop!" I predict kids everywhere will be chanting Martin's "I zipper-zoop! Poof! I disappear!" Schaefer's first picture book is a feast of color, movement and style.

Other picture books reissued for this season:

THE WIDOW'S BROOM by Chris Van Allsburg; Houghton Mifflin. One of the artist's best mysteries. A must for art lovers as well as those who love scary

stories. WITCH HAZEL by Alice Schertle; illustrated by Margot Tomes. The smallest brother, Johnny, finds magic in a scarecrow and pumpkin seeds. I recommend "Witch Hazel" for all harvest celebrations.

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