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Tier one mats have exploded, which I tried to quietly/secretly warn you about with this post: Four Winds Speculation. We mentioned it more publicly in the forums, and perhaps the lack of massive publicity is why the price of tier one crafting mats didn't go up from mass speculation right before the patch.
So what can you do now?
Sell if you have items that are going up in price right now, but continue to buy them as well.
We are on the up swing price wise, so there is opportunity here to just keep flipping and making a profit while watching the price rise. As it starts to slow and even reverse, that's when you need to get out completely.
This is a dangerous game, and it would have been much safer to just save up tier one mats and sell off now. When you read my posts, try to use critical thinking and assume that there might be a second layer behind the obvious point. Even if I don't mean to teach you something new, you might come up with something anyway by making a habit of this.
I predict that all prices for items currently inflated by the patch will decrease once the four wind celebration ends. Sell what you can right now, flipping as much as possible, and then prepare to buy when the dust finally settles and prices begin falling once more.
Doesn't matter if you're getting into this speculation/trading thing now or have been preparing for months, now is the time to make some gold and prepare for the next opportunity.
If you have lots of ore saved up for the jewelcrafting patch, you can sell off a bit now to make some easy money, potentially cover any lost interest if the patch is a long way off.
Oh... ONE MORE TIP: Learn to salvage right now. It's amazing profit.