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I'm not against occasional bargain hunting for resale, but I definitely don't like professional daytraders that drive up costs just to profit at others' expense.
As a further note to this, the laws of supply and demand still apply. If you inflate the prices, you will make more per item sold, but fewer items will sell. Many people, myself included, will look at various items and say "eh, I can wait it out". Thus leaving you with extra inventory, as well as having to worry about people listing more of the item and undercutting your price. Which leads to the next paragraph.
For the purposes of this thread, daytrading is out of the question because of the large amount of capital it takes to do it. Your initial investment is sizable and it is high risk. For those who say they do it on sub-2-gold items only, that's still a lot of capital and your profit margins are slim enough that you could go farm many other areas for better profit.
At level 38, your best bet is to gather everything with a gathering profession and sell it on the AH.