I remember fondly my Haynes manual, covered in grease and brake fluid, and an absolute necessity in my dire attempts to reassemble my sky blue Triumph Herald after my earlier overenthusiastic exploratory activity.

So I’ve taken a look at recent directors dealings in Haynes (HYNS, 178.5p), despite its very limited size (£13m mkt cap).

Chairman John Haynes on Thursday bought 35,000 shares (including 20,000 in his wifes name) at 170p, up 30p from the previous days close due to enthusiastically received results. Haynes now holds 130,000 shares.

Chief Executive Eric Oakley bought 20,000 shares at 165p, taking his holding to 43,000 shares.

I believe these purchases to be significant:

1. They are an increase in existing holding of 35% and 90% respectively.

2. They are the first purchases by Haynes directors in almost SIX years. Also worth noting is that Director MEF Haynes last sold shares at 378p in March ’05, and John Haynes last sold in October ’03 at 313p.

I believe the Signal Strength implied by the directors purchase activity merits a STRONG rating.