The stock dropped 3.3% Wednesday, but Forbes contributor David Penn says the slide was more the result of a technical overbought condition than a reaction to the stinging rebuke from the employee, Greg Smith.

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This is similar system to that used by some heart pacemaker systems, but these only report back technical information about the condition of the implant, rather than gather extensive data about the condition of the patient.

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On Friday morning the market continued its technical rally off the short-term oversold condition.

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"There's still some technical work that needs to be done, " said the official, speaking on the condition of anonymity.

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