  A new quantitative theory for polyelectrolytes in salt free dilute solutions
is developed. Depending on the electrostatic interaction strength,
polyelectrolytes in solutions can undergo strong stretching (with
polyelectrolyte dimension R_g\sim l_B^{1/3}N, where l_B is the Bjerrum length
and N is the number of the chain segments) or strong compression (with R_g\sim
l_B^{-1/2}N^{1/3}). A strong polymer collapse occurs as a first-order phase
transition due to accompanying counterion condensation.
