1Combine the water and sugar in a medium heavy-bottomed saucepan over medium high heat. Stir to dissolve sugar, and then stop stirring.
Insert candy thermometer and boil to 240^, or soft ball stage.
2Turn down heat and add the cranberries all at once, stirring to incorporate. The sugar will thicken around the berries and be difficult to stir, but after a minute or two it will be easier to stir.
3Boil for 10 minutes, stirring occasionally, until most of the berries have popped and the mixture looks like jam.
Stir in the nuts and continue boiling, stir,until mixture is a thick paste; about 10 more minutes.
4Pour mixture into a 9x13-inch pan and allow to cool at room temperature or in the refrigerator.
Coat your hands in powdered sugar and roll the candy into walnut- size or smaller in powdered sugar or chopped nuts.
Store in the refrigerator for up to a week or so.
Can form mixture around sucker stick and the dip in melted white or chocolate disks and placed on foil- chill to set chocolate.