It sounds like the Magic really are trying to make a run this year, they are going to get Rafer Alston in a three-way deal. This is big, it's going to keep them going strong without Jameer Nelson. More on this can be found at ESPN, HoopsHype and Insidehoops, check those for the breaking news on deals.
Also, this deal:
New York gets: G Larry Hughes, F Chris Wilcox
Chicago gets: F Tim Thomas, G Anthony Roberson, C Jerome James
Oklahoma City gets: F Malik Rose
This is interesting, the Knicks trade away a couple of guys they don't use and get two guys who could be rotation players. Also, there deals are all up in 2010 (the deal breaker for any Knicks trade).
Minnesota gets: F Sheldon Williams, G Bobby Brown
Sacramento gets: G Rashad McCants, C Calvin Booth
This deal doesn't really matter in the long run, but two of the players dealt are decent (Williams and McCants). They won't affect anything, but they shouldn't hurt anything either.
Trade day! I like seeing movement, but it's tough to keep up with it! If anything else goes down, I'll talk about it hear.