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While you are in this thread, scroll to the very bottom of the page. The last little area should have the "Extra Information" heading. Below that you will see the "Favorite Topic! (toggle)" link as well as the print topic link. If you click the favorite topic toggle it will add or remove the thread you are in from your favorites list.

Once you have topics in your favorites list, you can configure your email notification options. They are located in your preferences in you "My Home" area. The options you want are the "Subscribe / Unsubscribe from receiving forum posts by email, change message notifications, etc. " ones, you will see the notification options in there.