Indeed, as I said, it disappeared regularly, which indicates natural phenomena, so does "cat n mouse" when we consider electrical charges.
It is just too old and convoluted. James McDonald had his "final say" in the 60's, Klass did not bother with it until the 70's so little challenge was there. I just figure to had little to work with more than what is essentially a ghost story. Even if this was a genuine Alien space craft playing games with a plane, I do not feel enough information exists to determine such. It's just an anomaly in antiquity. And it only remains an anomaly because so little is known other than some pilots saw an intermittent light. Quite a few bombers reported anomalies didn't they? Maybe it was an equipment characteristic. Phil Klass did show that the plane had a faulty relay connected to the polarity switch as PFP stated. Nicap confirm this in their evaluation - here.
In addition to the previous, we also have a faulty system on the plane, and a meteor shower in this vicinity. I feel the more compelling cases are ones where one does not have to create a case to fit the events. Particularly so when prosaic explanations can also fit the bill.