I'll dig deeper. I understand the mechanics of a market, and currently the market is swarmed with supply, which makes the prices plummet; but in the same breath, everyone has a TON of gold from questing leveling, so the prices should rise a little.

I know that when demand creeps back up the prices will rise, but will it be enough to hold these chants? How are we to know?

And why are people so stupid to make 30 of a single chant for 6k and post it for 10 when they get little/no level increase after maybe the first 10-15?

Because they have more money than sense. They enchant scrolls to level up and then just chuck them all on the AH, under-cutting the last person that did exactly the same. There is nowhere near enough demand for that many scrolls right now, so the price crashes.

I like people like that, I've made 30k+ DE'ing and selling mats to them in the last week. When dust has fallen to 10g or lower in another week I'll think about skilling up my own enchanting past 475.

Back on topic: the JC patterns can be decent money makers right now, IF you pick a pattern that no-one else has yet. I checked the AH when I got my first 3 tokens, noticed that no-one was selling Deadly Ember Topaz, and so got that one. I've had 3 days now of no competition, selling about 10 of them a day for 200g profit each. At least half the JC's on my server seem to have gone for the obvious red cuts.

You are better off holding onto finished products and waiting for the market to stabilize again.