Suddenly, Wall Street wants to be bullish on the beat-up retail sector.

But there are at least five reasons why you should head for the hills. And if you don't heed these insights, it could be lights out for your portfolio ahead of earnings from Macy's (M) ,  J.C. Penney (JCP) , Nordstrom (JWN) , Target (TGT) and other big-name retailers shortly. Just ask shareholders of watch-maker Fossil (FOSL) . Shares will likely come under pressure Wednesday following the company's ugly earnings miss.