This trick is called the Skyrocket. You start off with the long sleeper, and when the yo-yo's spinning, take the string, the loop, off your finger and you give the yo-yo a little tug. And when the yo-yo comes up to your hand, you don't catch it, you have it go by your hand. Flies up and that's what you call the Skyrocket.
You would use a Skyrocket at like, the end of a freestyle routine. The audience loves to see the Skyrocket. Make sure you catch it, because if it goes anywhere else, you're going to hurt someone, maybe yourself. The hardest part about the Skyrocket is controlling the launch. You've got to time it just right. When it comes right up, if you don't time it right, it'll come up and hit you rin the knuckles or it won't even go up, kind of like that. And that's the Skyrocket.