From: Barrett, Paul Sent: Thursday, October 13, 2011 1:53 PM To: Jeffrey Epstein Cc: Giuffrida, David Subject: Follow Up #1 H= Jeffrey These are the names I think we should accumulate vs a shor= SP500 position. Would look to build a total of $3MM longs vs a $3MM SPY=short. Slew of earning coming out over the next few weeks so would avera=e in starting with 25%. =/o:p> Also feel that we should fade this move on=the SP and the EUR. Would short the EUR outright and do the collar on th= SP. </=d> Ticker 22-1u=-2011 =td width=203 valign=bottom style='width:152.0pt;border:solid windo=text 1.0pt;border- left:none;background:black;padding:0in 5.4pt 0in 5=2E4pt;height:38.25pt'> Name Industry Market=Cap Px Last % Chg from Ref Date SPX S&P 500 INDEX 11,265,780 1,207.25</=:p> A EFTA_R1_00086292 EFTA01773456