Aperiodic variability and Quasi Periodic Oscillations (QPOs) are observed from accretion disks orbiting white dwarfs, neutron stars, and black holes, suggesting that the flow is universally broken up into discrete blobs. We consider the interaction of these blobs with the magnetic field of a compact, accreting star, where diamagnetic blobs suffer a drag. We show that when the magnetic moment is not aligned with the spin axis, the resulting force is pulsed, and this can lead to resonance with the oscillation of the blobs around the equatorial plane; a resonance condition where energy is effectively pumped into non--equatorial motions is then derived. We show that the same resonance condition applies for the quadrupolar component of the magne...