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H1B Transfer or New Petition

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Hello i got layoff fom my last company as of 31st Jan 2011 and they on phone told me they will give me one month to me to find another company. Last week i called them just to check that they have not sent yet. But surprisingly they said they have already informed USCIS. Now my new employer says lets go for transfer and says for new H1B there is no cap available.My confusion is what is the diff in transfer or new H1B. And what i should do.

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There is nothing like h1 transfer... it is always a new petition, and since you were counted towards qouta in past new petition will be cap exempt....

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