I'm not going to lie to you, it's very hard to sit up here and choose a “Bull of the Day” when it seems like it's hitting the fan from every direction right now. First it was energy, then China, then biotech, now healthcare. There seems to be nowhere to hide in this market right now, other than under the desk. Well I'm a big guy and it's not too spacious down there so I propose an alternate solution; search for the strength.

The airline industry is in the top 9% of the 265 industries we rank with our Zacks Industry Rank. Among the Zacks Rank #1 (Strong Buy) stocks to choose from is our “Bull of the Day” Ryanair Holdings (RYAAY – Snapshot Report). Ryanair operates an ultra-low cost, scheduled airline serving short-haul, point-to-point routes between Ireland, the United Kingdom, Continental Europe and Morocco. The company's principle fleet consists of Boeing 737-800 aircraft.

Over the last thirty days, three analysts have upped their earnings estimates for the current year and next year. The bullish attitude has pushed up the Zacks Consensus estimate to $4.77 from $3.85 for the current year and up from $4.34 to $5.41 for next year. Those upward revisions are a big reason for the Zacks Rank #1 (Strong Buy). This stock also happens to be blessed with a Zacks Momentum Style Score of “A” making it very attractive at these levels.

With the market seeming to crumble around it, shares of Ryanair has remained resilient. A great earnings report last October was the catalyst that started the uptrend that began in the mid-$50s and has gone through to the low $80s. The last few rocky trading days have sent shares retreating from the highs but the fall from grace hasn't been too harsh. Shares found buyers stepping back in at the $78 level. The commodity channel index has come down from an extremely overbought level over 200 to cross below the zero line. It may be best to wait for the CCI to dip below -100 then come back a bit before jumping in headfirst.