Dry Powder: where are you storing your cash?

[Brent Blum]

Are you stockpiling cash right now?

Do you believe investment properties will go "on sale" in the next year?

If so, where are you keeping your cash (or cash equivalent)?  

A saving account just feels lame.  I'm looking for options that are nearly as liquid but have better returns.  Any suggestions come to mind?  Or maybe that's why they call it *dry* powder....