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The past week saw the averages close up 3.58% for the Dow Jones Industrial Average, 3.73% for S&P 500, and 4.04% for the NASDAQ. Despite the week finishing on a positive note, this week's AAII Sentiment Survey results (week ending 6/6/2012) prove otherwise:

Bullish: 27.5%, down 0.6

Neutral: 26.8%, down 3.2

Bearish: 45.8%, up 3.7

In addition to this, JPMorgan cited six issues which could take the market lower in the short-term. Continued uncertainty from Europe, and 'risk on - risk off' is among the most heard strategies for investors today. With minute-to-minute recommendations of market timing and the movement in and out of sectors that can overwhelm even the most calm of investors, my belief is that sometimes doing nothing is the best trade. Being paid to wait with dividend paying stocks is a strategy that I tend to stick to. Most of these companies are trading from fair value to highs to their 10-year historic yields which attract new buyers and in turn not only provides support at which the stock will not fall below, but momentum for the stock to move up higher.

Despite these short-term negative influences, investors should look beyond the news and protect their portfolio with recession resistant stocks. In this article I will provide a list of stocks as a means of idea generation, describing why they are good bets in 90 words or less for the long-run as a means of diversifying a portfolio.

The Procter & Gamble Company (NYSE:PG)

Chances are that somewhere in your household you have a product from P&G. Gillette, Ariel, Head & Shoulders, Herbal Essences are some of the well-known brands from P&G. The company raised the dividend in the most recent payout from $0.525 to $0.562. Do not expect any magic to happen from the stock price. However, if you are looking for a solid dividend payer, which in this case has been paying dividends for 42 years with a yield that trumps 10-year Treasuries, look no further.

Dividend Yield: 3.59%

Pfizer Inc. (NYSE:PFE)

This global biopharmaceutical company is in the $100+ billion market cap territory and will continue to sell its products in any state of the economy. One of two main factors which may initially lead investors to disregard this company is its pipeline. Patent cliffs dampen sales on Big Pharma. However, M&A activity help it maintain its market position in the long-run. The second factor is the P/E ratio, which may discourage some investors; however it can sustain that dividend three-times over with its free cash flow.

Dividend Yield: 3.99%

The Coca-Cola Company (NYSE:KO)

The world's biggest soft-drink manufacturer sells over 1.7 billion servings of Coca-Cola every day. It also sells Fanta, Sprite, vitaminwater, Powerade, among other products and is as recession-resistant as companies come. Coca-Cola is a synonym for "moat" and a company that springs to mind when The Oracle of Omaha is mentioned. When leading pop artist Andy Warhol created paintings about Coca-Cola, that set the tone for the company's prominence. People wonder what the world would look like without KO and that shows brand power.

Dividend Yield: 2.73%

Philip Morris International Inc. (NYSE:PM)

Altria Group, Inc. (NYSE:MO) spin-off Philip Morris is a company which has stood the test of regulation, time, and the state of the economy, year in, year out. The stock market is up- people smoke, the stock market is down- people smoke, there's a recession- people will continue to buy their daily-dose of cigarettes. The mega-cap juggernaut expands in countries with relaxed smoking laws which are the emerging markets and so more than makes up for the shortfall in countries with more stringent regulation.

Dividend Yield: 3.62%

Source: 4 Defensive Dividend Stocks For Increased Diversification