We all know that the NBA is currently locking out their players. So what exactly are we allowed to do? Not much I'll tell you that.
No trades are allowed to go through. We don't know what the cap is going to look like which means we don't know if the trades will actually be possible. You will be able to make draft pick only trades.
You also may not sign free agents or resign your own players. 2011 draft picks are your property but are not able to be signed.