I wouldn't sell Simao for 7M $. I got 17.5M pounds for him in the second season. He's a great player so wait a season or maybe two before you sell him and replace him with Miguel.
I wouldn't sell either Maxi Rodriguez or Reyes. Rodriguez is valued 16M and Reyes 24M in the 3rd season now. They just rip up the wings!
I might sell Luis Garcia at the end of this season, as he hasn't played well this year and after all he is probably past his prime as he's 30 years old now, but I'm reluctant to let him leave because he's spanish, but right now Miguel is playing a lot better.
If Merida starts playing even better than he is now, I probably won't buy a replacement, as I would still have Reyes, Rodriguez, Miguel and Merida for the wings.
If I am to buy a wing, I want a real world class player, and the only one I can think of is Messi, but I don't think he will join me.
Otherwise it would be either Silva, Marcelo or Anderson.
Anyway, I'm top of the league after 22 games, with 17 wins, 4 draws and a defeat against Barcelona, 3 points ahead of Barca and with a goalscore of 50-10.
I'm very happy with my defence - Pique, Pable and Coloccini are amazing.
I really don't know where to strenghten my squad. I think my fullbacks are my weakest link, but I'm very reluctant to replace Antonio Lopez or even Carlos Diogo for that sake, although I must admit that the later hasn't been playing well this season.
I can only see him being replaced with Sergio Ramos, though, and I probably won't be able to sign him.
Another place I could improve would probably be my midfield, where Maniche isn't ageing well. Fabregas would be great but again he probably won't join, and I've got a regen labelled the next Xabi Alonso who looks amazing so it might be stupid paying a lot of money on a player I'll soon be able to replace with a player from my own youth academy.
Well, I'm off to bed I think.
Good luck with the game