I have a bias for liquidity as well, kinda dollars for "just in case" events--ranging from a stocks to stuff. In hindsight, I have learned that for myself, a lot of it is a masquerade for indecision and I have left too much in cash with a lot of opportunity cost. In the current case, not moving from the no penalty CD to the 12 month CD has an opportunity cost of 50 basis points or about $62/yr for a 25k CD.
Lots of assumptions about current spread holding for duration, better deals maybe in future, etc. But it is certain that I will be 50 bp better off until Nov. 18. and not have to do any account gyrations (move $ to Fido) etc to get it. Not earthshaking but when combined with other similar tradeoffs, the dollars add up over time for a liquidity situation that never arrives and if it did, could be met from a number of alternatives.
I guess if you are a conservative investor as I am, that is just the price of the strategy.