Corporations have amassed the largest cash reserves in 50 years according to Federal Reserve estimates - almost $2 trillion.

Firms need to deploy this war chest at higher rates than they are getting in short-term investments. Some are hiring (Cisco and Intel); some are doing stock buy-backs and making acquisitions (Hewlett-Packard); others are raising their dividend (IBM).

This article on SeekingAlpha.com by Charles Carnevale - CIO of EDMP, Inc. - states, "Historically, cash held by corporations has peaked just one month prior to the stock market going into 'recovery mode' in each of the postwar recessions."

The media may be ignoring some good news for the stock market.

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