Today I got hit with the pattern day trading rule and didn't notice it, so now my account is suspended from trading. I want to know if I have a stock at $30 and next week it will be $40 will I also get that $40 or is my account halted on that stock for $30. The broker also told me "the account will be restricted to closing only transactions". What does this mean. Will I be able to sell and not buy?
no, your're cool, plus you can sell that stock anytime you want with no restriction, but you can't put on anything new until you meet the PDT requirement