Despite this bear cycle, a group that should do well in coming weeks if the market stabilizes a little is transportation, and particularly airlines like Southwest (LUV), Alaska Air Group (ALK), Hawaiian (HA) and Spirit Airlines (SAVE).

The main cost of these companies’ expense structure is way down, and business is still pretty good because people prefer to buy experiences now instead of things.

One that I’m focusing on in my Trader’s Advantage advisory is Spirit Airlines (SAVE).  Spirit Airlines is a discount airline carrier based in Miramar, Florida. It flies around 65 aircraft mostly to vacation spots in the Caribbean and Latin America.

Shares of Spirit Airlines crash-landed from May to November last year, then finally caught a bid.

Spirit Airlines is very cheap and deserves to rise at least to $60. It is breaking out now as vacation travel is still one of the strongest areas of the U.S. economy. Buy this breakout.

Buy Spirit Airlines at $45.00 limit, good till canceled. Sell at the final target of $49.00 limit, good till canceled. No stop loss at this time.

Keep in mind that unless this rally exceeds the 2,100 level on the S&P 500, this is still a bear cycle and must be approached in a very different way than the past few years. Ultimately, all rallies must be sold — but not necessarily right away, so there are some quick upside profits to be made.

Jon Markman writes a daily trading newsletter, Trader’s Advantage, and CounterPoint Options, a service geared towards helping individual traders make steady, consistent profits with the VIX. Follow him on Twitter for his latest take on markets and innovation.