The Deen's List(TM)
A service of Deen Capital Management, Inc. (www.deencapital.com)
Vol.1 #54           Wednesday November 12 2003           2:16pm ET

Please read carefully our disclaimers at the end of this newsletter.

Market stance: BULLISH (since Oct 3 2003)

******************************* Contents *******************************

Bought CYD
Sold MNC

****************************** Bought CYD ******************************

China Yuchai Int Ltd (CYD)

Net buy price in managed accounts(*)... $28.79
Yesterday's close (Nov 11)............. $26.70
Net change (based on net buy price).... +$2.09
Today's volume as of 1:48pm ET ........ 7.4 million ($212.7 million)
Average daily volume................... 2.0 million ($57.8 million)
This year's earnings-per-share......... $1.60 (est)
Next year's earnings-per-share......... $2.10 (est)
P/E using next year's earnings......... 13.8 (est)
Earnings growth rate, next 5 years..... 30.0% per year (est)

(*) The "Net buy price" is the total net purchase cost after commissions
for all managed accounts divided by the total number of shares.

On Wed Nov 12, I bought CYD.  China Yuchai (www.hlcorp.com.sg/cyi/)
manufactures medium-duty diesel engines, diesel power generators, and
diesel engine parts in China.

Here's why I bought this stock:

+ Technical:  This has been one of the strongest stocks in the entire
stock market.  On Monday and Tuesday of this week, the stock experienced
a significant -27% correction in price from $36.45 to $26.70.  And yet
the trend is still strongly up -- the stock started the year at $4.57.
I bought in on Wednesday, as the stock was experiencing a very heavy
volume and bullish intraday reversal.  It was down briefly to $25.10
before turning around and heading north.

+ Valuation:  At 14 times next year's estimated earnings and a projected
5-year annualized earnings growth rate of 30%, the stock is very
attractively priced.

+ Fundamentals:  I do not have a complete history of sales and earnings
on this stock.  But what I do have looks very good:

+ Sales were up 97% to $106.1 million last year.

+ Earnings for 2003 are expected to come in at $1.60 per share, versus
$1.40 last year.  Earnings for 2004 are expected to come in at $2.10.

+ We are now participating in the unprecedented economic boom in main-
land China.  This phenomenal growth story is far from over.

******************************* Sold MNC *******************************

Monaco Coach Corp (MNC)

Net sell price in managed accounts(*).... $22.48
Date(s) bought........................... Oct 21 2003
Net buy price in managed accounts(*)..... $22.69
Holding period........................... 3.1 weeks
Gain/loss in managed accounts............ -0.9% (after commissions)

(*) The net buy (sell) price is the total net cost (proceeds) after
commissions for all managed accounts divided by the total number of
shares.

On Wed Nov 12, I sold Monaco Coach.  I still like this stock, but I
like CYD even better.  I sold in order to buy CYD.  Also, our gain in
this stock has evaporated.  It is not participating in today's (Wed
Nov 12) rally.

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************************ IMPORTANT DISCLAIMERS *************************

* All stocks discussed in The Deen's List(TM) involve a high degree of
risk.  It should not be assumed that any stock discussed in The Deen's
List(TM) or purchased by Deen Capital Management, Inc. will be
profitable.

* Past performance is not necessarily indicative of future results.

* The information contained herein has been compiled from sources deemed
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************************************************************************

Ken Deen
Deen Capital Management, Inc.
PO Box 30925
Santa Barbara, CA 93130
(805) 682-1870
deenslist@deencapital.com

Copyright (C) 2003 Deen Capital Management, Inc.