From: Jeffrey M Matusow <

From: Jeffrey M Matusow < To: Jeevacation <jeevacation(kgmail.com> Subject: RE: CHF Date: Thu, 17 Jun 2010 14:14:10 +0000 took profit of $150k Jeffrey M. Matusow JPMorgan Private Bank 140 West 57th Street, 33rd Flow; Ntx h,rk, NY 10019 Email: IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. From: Jeevacation [mailto:[email protected]] Sent: Thursday, June 17, 2010 9:51 AM To: Jeffrey M Matusow Subject: Re: CHF Ok Sent from my iPhone On Jun 17, 2010, at 9:45 AM, Jeffrey M Matusow < > wrote: CHF stronger on statement from SNB that rates can't stay low forever and that they are not going to intervene to keep it weak. We are up $130k on the long CHF position. Let's take profit. It has moved from 1.16 to 1.11 in a week. Euro traded above 1.24 - watching for levels to go short. The dividends are up marginally. Oil above $77 - your positions are up $500k. EFTA00749321 Jeff Jeffrey M. Matusow JPMergan Private Bank 140 West 57th Street, 33rd Floor, New York, NY 10019 Email: IRS Circular 230 Disclosure: inlorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://wwwjpmorgan.corn/pages/disclosures/email. EFTA00749322