When a pattern day trader purchases stocks with margin account, does s/he have to sell some stocks at the close of day to keep her positions below regular, non-marigin buying power? Otherwise, can s/he just keep the stocks s/he bought with margin overnight?
Let's assume that I have $10k in account. I believe that i can buy ETF, for which margin requirement is 50, for $20k. 1)If I just bought this ETF(one time a day) for 20k and did not sell that day, can I keep all of them overnight? 2)If I bought this ETF for 20k, sold all of them for 21k and bought them back for 21k, can I keep all of them overnight? Or should I sell for at least 11k before the close of market? Thanks a lot!!!