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Odd couple energy, consumer stocks trick traders

An Exxon Mobil station in Cincinnati
Luke Sharrett | Bloomberg | Getty Images

It's likely not many investors had this trade going into earnings season, but that's why the market tends to find a way to make the most people wrong at times.

In the last one month, the best-performing stocks in the S&P 500 were energy/materials and consumer discretionary companies. One is a momentum tale of low oil prices driving increasing sales and the other is a contrarian story of that same crash in oil prices causing investors and analysts to get too pessimistic on the value of the group's shares.