I agree 100%. Personally, I think that gold will hold up. Some investors will sell their gold stocks but will go to the producers first as they are most liquid and profitable. The juniors could take a small hit but as you've said, how much further can they go down?

However, personally I think the S&P500 will only retest the support level of 1,320 and bounce up again for the short term which will cause a very quick and sharp snap back in resource stocks. So for my money, I think all we'll get is a very short buying opportunity which may occur later today or Monday.