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Farr’s Top Two Defensive Stocks

It's time to get defensive, and two companies offer robust opportunities, Michael Farr of Farr, Miller & Washington said Thursday.

"I think that so much of the market still feels squishy, and not in a good way, given the economic data we're seeing," he said.

On CNBC's "Fast Money," Farr said that his top defensive sectors were health care and consumer staples.

"This is a defensive portfolio," he added. "Blue chips with good dividends make a lot of sense right now."

Farr said that two of his top picks were FedEx and Yum! Brands.

"I always try to hit it where they' ain't, and these are two stocks that people don't like right now," he said.

Yum! Brands held promise through its exposure to the Chinese market, Farr noted.

(Read More: It's Time to Play Defense: Gina Martin Adams)

Meanwhile, FedEx would benefit from lower oil prices, he added.

"Long-term this is a fabulous company with a great balance sheet and superior management," he said. "I'm really happy owning it."

Trader disclosure: On April 18, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long SBUX; Tim Seymour is short FCX; Tim Seymour is long PEP; Jon Najarian is long GOOG CALLS; Jon Najarian is long CMG CALLS; Jon Najarian is long VXX CALLS; Jon Najarian is short GLD PUTS; Jon Najarian is long TXN PUTS.

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