  In this paper we compare recent experimental data for the total cross section
$\sigma(e^+e^-\to{hadrons})$ with the up-to-date theoretical prediction of
perturbative QCD for those energies where perturbation theory is reliable. The
excellent agreement suggests the determination of the strong coupling
$\alpha_s$ from the measurements in the continuum. The precise data from the
charm threshold region, when combined with the recent evaluation of moments
with three loop accurracy, lead to a direct determination of the short distance
$\bar{\rm MS}$ charm quark mass. Our result for the strong coupling constant
$\alpha_s^{(4)}(5 {GeV})=0.235^{+0.047}_{-0.047}$ corresponds to
$\alpha_s^{(5)}(M_Z)=0.124^{+0.011}_{-0.014}$, for the charmed quark mass we
find $m_c(m_c)=1.304(27)$. Applying the same approach to the bottom quark we
obtain $m_b(m_b)=4.191(51)$ GeV. Whereas our result for $\alpha_s(M_Z)$ serves
as a useful cross check for other more precise determinations, our values for
the charm and bottom quark masses are more accurate than other recent analyses.
