What would you call?

[PatLynch]

Fellow Officials,
During a varsity game last weekend, the following situation occured and I would like help on the correct application of the traveling rule. A1 in possession of the ball, jumps to pass....B1 slaps the ball loose from A1 who although never having given up total control of the ball, grasps the ball while both ball and player are in the air, and returns to the floor. I signaled for a violation, called traveling and basically continued the game without any questions or comments. I wondered later during my game evaluation whether the call was correct or not. What do you think?