Amidst all the turmoil and double dip recessionary-esque data, Cisco Systems (CSCO) looks to emerge a potential leader.

FORBES: Quick Hit - Long Cisco

Some of my real estate reporter colleagues at other media outlets were quite fast to assume this data meant a housing double-dip was upon us.

FORBES: New Housing Data Shows A Springtime Bounce Back, Not A Double-Dip

Stocks have also been boosted by economic data that have moderated fears of a double-dip recession and investor sentiment that has shifted decisively towards the bearish side of the equation.

FORBES: Jersey Shore And The Dow Jones

The Centre for Economics and Business Research has this: "Today's data suggest that the UK is probably in the midst of a double-dip recession and we expect the economic picture in 2012 to remain gloomy".

BBC: Recovery in rehab

While I do not believe, based upon the economic data currently available, that the economy is at risk of slipping into a double-dip recession, I do believe that this economic recovery may be a longer, more drawn-out recovery than many, including the Federal Reserve, initially anticipated.

FORBES: Fed Is Still The Market's Friend, Thanks To A Weak Recovery