Red Sox: The Red Sox are dangling Wily Mo Pena in front of the Nationals for closer Chad Cordero. The Nationals, who need a outfielder with some power may accept the trade but will probably want more than just a one for one deal. Jim Bowden trade Pena when he worked for the Reds, but knows what he is capable and might be happy to have him back. I do not see a deal happening though, Cordero is the prize of the bullpen and there is no one better on the market to replace him. However, there are other outfielders that they could sign.
Yankees: The Yankees have resigned Mike Mussina and may be interested in bringing back Ted Lilly. They are also interested in signing either Rich Aurilia or Shea Hillenbrand to play first base. They have been very quiet since trading Sheffield and Wright.
Blue Jays: The Blue Jays are looking to sign a short stop. Julio Lugo seems to be the favorite, but if he goes to the Cubs, who are showing interest in him. The Cubs might be able to package a deal with Cesar Izturis to acquire either pitching or Vernon Wells.
Devil Rays: Well the biggest news coming out of Tampa is that Elijah Dukes was called up to the 40-man roster. This comes as no surprise as he is capable of maybe starting this season. That is why rumors have surfaced about Rocco Baldelli or Carl Crawford being traded.
Orioles: The Orioles are in an intense bidding war over Carlos Lee with the Astros. After signing Walker, they have now turned their attention to Lee and Lee only.