By Kate Gibson

The stock market's tentative Wednesday moves came as investors clamored for additional details on the Obama administration's plan to help struggling home owners.

In unveiling his strategy Wednesday afternoon in Phoenix, President Obama should offer "more details, rather than less, to avoid the fallout after [Treasury Secretary Tim] Geithner's non-plan plan," said Dan Greenhaus, an analyst with the equity strategy group at Miller Tabak & Co.

"It's important to announce specific dates and specific monetary quantities to give the market a firm handle on how much he intends to do and when he intends to do it," Greenhaus said.

Earlier Wednesday, the administration laid forth a $75 billion program for "at risk" homeowners aimed at slowing foreclosures.

The program's funding is larger than the $50 billion speculated, said Greenhaus.

The government's plan to subsidize the reduction of mortgage rates begs the question of "how to separate those that took unnecessary financial risk or those families strained by reduced income or loss of jobs entirely. In the case of the latter, I don't think anyone would argue against helping those people. In the case of the former, there is the real threat of moral hazard," said Greenhaus.

Last week, Geithner's strategy for straightening out the U.S. banking industry got widely panned by investors, who found it lacking in specifics.

After slipping to three-month lows during Tuesday's session, equities wavered between modest gains and losses in recent action, with the Dow Jones Industrial Average (DJI) lately up 55.44 points at 7,608.04.

Financials turned tail on earlier losses to front the gains.

The S&P 500 (SPX) gained 6.08 points to 795.25, and the Nasdaq Composite (RIXF) climbed 14.87 points to 1,484.73.

Financials turned tail on early losses, with real estate investment trust Developers Diversified Realty (DDR) among those gaining, recently up nearly 7%.

While the banking sector would likely benefit from any plan bolstering the embattled housing market, but the help would not be in the same direct fashion that would come if the government stepped up with a specific plan for troubled assets, said Greenhaus.

If the housing plan works, the housing sector and ancillary sectors including home improvement and construction would stand to benefit, said Greenhaus, pointing to Home Depot Inc. (HD) and Lowe's Companies Inc. (LOW).

"Anything that makes housing materials, like furniture companies and those that make gardening equipment. Some of these sectors have been hit very hard; if you see a rebound in housing there is a whole different series of ways to play," Greenhaus said.