Instructions
Line a loaf pan with foil. Put the first four ingredients in a metal bowl. Mix the sugar, condensed milk, cherry preserves, whipping cream, water, and butter in a heavy saucepan. Stir over medium heat until butter melts and sugar dissolves. Add the dried cherries. Attach a candy thermometer to the side of the pan, increase the heat to medium high, and boil the mixture untl it reaches 230 degrees F, stirring constantly but slowly (about 17 minutes). Pour the hot syrup immediately over the chocolate mixture in the metal bowl. Stir with a wooden spoon until the chocolate melts and the mixture thickens a little, about 3 minutes. Pour into the prepared pan, smooth the top, and chill until firm, about half an hour.