'Immaculate Rotation' for the Market?

While stocks aren't necessarily impervious to the Federal Reserve, there were a few areas that showed resilience amid market worries, Mike Santoli of Yahoo Finance said Wednesday.

"Obviously nothing was really immune today," he said. "They all went down."

On CNBC's "Fast Money," he noted that large cap tech stocks are not interest-rate sensitive or tied to the housing sector.

"These big, high-quality balance sheets that aren't dividend plays today, but down the road have the capacity to be returning a lot of cash to shareholders, as a general principal, I think that makes sense," he said.

Santoli's three relatively Fed-proof stocks were Google, Netflix and Cisco.

Google stock gained 6 cents to end the day at $900.68, while the Dow Jones Industrial Average dropped 206 points and the S&P 500 stumbled 22.88 points to close at 1,628.93.

Santoli said that he didn't have a time frame for how long the current situation would last.

"I don't know if we're not even close to back down to the point where I thought we would sell off from," he said.

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"I don't really necessarily know if this is enduring. What I do doubt is that there's going to be another, what I call 'immaculate rotation.' Rotations, adjustments are not necessarily seamless – the baton crosses from one sector to another, and you don't have any overall index pain."

Santoli said that he hadn't expected the pop in yields, adding that the market was reacting to the possibility of "a disorderly sell-off across the fixed-income complex."

Trader disclosure: On June 19, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long BAC; Jon Najarian is long JPM; Jon Najarian is short GLD; Jon Najarian is long VVUS; Jon Najarian is long BTU; Jon Najarian is long FNSR; Jon Najarian is long DFS; Jon Najarian is long OC; Jon Najarian is long S; Dan Nathan is short XLU June 38/36 put spread; Dan Nathan is long XLF short July 19 puts; Dan Nathan is long LULU July 65/70/75 call fly; Dan Nathan is long INTC long July 24 puts; Dan Nathan is long FB June/July 25 call spread; Dan Nathan is long BA July 100/95 put spread; Dan Nathan is long XLE June 80/77 put spread; Steve Grasso is funds long ABX; Steve Grasso is funds long F; Steve Grasso is funds long .SPX; Steve Grasso is funds long HPQ; Steve Grasso is funds long FDX; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long MHY; Steve Grasso is long HPQ; Steve Grasso is long LNG; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long S; Josh Brown is long AAPL; Josh Brown is long XLU; Josh Brown is long GOOG; Josh Brown is long IEC.