The commodity trade is on! Meaning that people want to continue to sell the companies that sell commodities or help extract commodities, and they want to buy the companies that use the commodities.
Remember what a commodity user is: a retailer, a homebuilder, an apparel company, a consumer products company, a company that does well with reduced gasoline.
Of course, oil and gas can be bought only if you actually believe that they have gotten oversold, or you can hold them until things get better. I actually think that picking at totally thrown-away oils can now be justified if you recognize that the first buy may not be your last buy. Better just to ride the wave unless you have already taken action and trimmed all commodity exposure that could be trimmed. (See Action Alerts PLUS buys to understand this philosophy.)