Fallen angels are especially well suited for stock market blow-offs when most stocks are overpriced. Because fallen angels have already plunged, they rarely drop much more — and often not at all — when the bear shows up, asserts Jim Powell, editor of Global Changes & Opportunities Report.

I will make a case again for what I consider to be one of the most promising fallen angels that have come along in years: Boeing (BA).

The company is in an excellent position to make a dramatic near-term recovery from the hammering it received when two of its innovative 737 Max airliners crashed with multiple fatalities. In the aftermath, the aircraft were grounded throughout the world.

The 737 Max is so fuel efficient and profitable, that the airlines that invested heavily in them want the safety problem fixed ASAP and the planes put back into the air. Other airlines that have ordered 737s want the aircraft recertified and their orders filled.

The pressure on the FAA and Boeing to get the job done is enormous — and it’s growing. Everybody wants the 737 Max back in service in time for the busy holiday travel season.

For its part, Boeing believes it solved the flight control problem that caused the two 737s to crash. The company is putting the updated system through its paces now. So far, so good. If the FAA agrees, the 737 Max could be back in service by the end of the year.

Meanwhile, Boeing is taking some costly hits from the 737 crashes. Lawsuits have been filed by the families of the passengers who were killed. Airlines with grounded 737s are seeking relief for the losses they are suffering.

Not surprisingly, Boeing just reported a record $2.9 billion second quarter loss, compared to a $2.2 billion profit during the same period last year.

At the first indication that the 737 Max is about to be re-certified, I think Boeing’s stock will soar. The stock was appreciating strongly before the troubles began.

The up-trend suggests that the stock will do more than just recover from the 737 problem — it should continue to rise. If you wish to ride along, you must own the stock ahead of time.

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