My snap decision - the results so far.

Well, 3 days on from my Snap Decision post and hings haven't turned out quite as I had hoped or planned for in the original post. However that's the nature of speculation, sometimes it pays off big other times it doesn't. As the picture below shows, the whiptail market is still flooded with super cheap stacks and it is now mid week.

This would be a problem if my only plan for profiting from my speculation was to flip all of my stacks back onto the auction house. However, as anyone who's had success making gold in wow will tell you "there's more than one way to skin a murloc". So instead of re-listing the mountains of whiptail I had for a significant loss I set to using it in a more financially beneficial way. Not only did I listen to the suggestion from Faid of Nerf Faids of "Darkmoon cards gooooooooooooo!" but I also listed burning embers, inferno ink and blackfallow ink in various stack sizes, made a few mysterious fortune cards, and also a ton of glyphs.

As of writing this post I have made back all but about 4k of my original 15k investment. Not only that but I still have about 400 blackfallow ink left to make more glyphs with as well as about 75 more stacks of whiptail waiting to be milled and heaps of glyphs listed to sell.

What's the moral of the story?

Know your markets. If you are thinking of spending big gold (or any gold) on speculative items do your due diligence first. If it seems like a good deal that's great but make sure that you also have an exit strategy for if your plan falls through that doesn't involve wearing a big loss. If the item only has one use and that doesn't pan out you're screwed, however if the item has several uses the risk diminishes exponentially.