Place the chilies in hot water and soak for 20 minutes. Remove the seeds, ribs, and stems from the chilies. Discard the water and reserve the flesh.
Heat 3 tablespoons olive oil in a saute pan. Fry the bread until golden on both sides. Place chilies, bread, almonds, cayenne and garlic in a food processor and pulse quickly. Next add roasted pepper, tomato, paprika, salt and pepper and puree to form a thick paste. Stir in 2 Tbsp. of red wine vinegar.
With the food processor running, add the oil in a thin, steady stream until the mixture emulsifies. As you continue to add the oil, you might need to add a little water if it gets too thick; the finished sauce should be thick enough to hold its shape softly on a plate. With all the oil added, adjust the seasoning and add enough vinegar to brighten the flavor and cut the richness.
Yield: 8 servings Serving Size: 1 Tbsp Source:The Culinary Institute of America at Greystone Napa Valley, California