Snuck In (right), who took second at the Arkansas Derby, did not make a Run for the Roses.

"It's not really a question I can answer," says Pegasus' Hall of Fame trainer Neil Drysdale. "I think the majority of people know the reason. It would be a fairly political answer for me to answer it. I think you can use your own imagination how to interpret that."

Since he won in the sixth-fastest time ever in the Kentucky Derby, many trainers have been skittish about running their horses against the $4 million colt. Jenine Sahadi has returned to California and removed The Deputy, who entered the Derby at 4-1, from the remaining Triple Crown races. Likewise, Robert Frankel, whose colt Aptitude finished second in the Derby, has chosen to keep him out of this weekend's Preakness Stakes to prepare for the Belmont Stakes on June 10.

They are not alone. Just six of the 18 losing horses in the Derby are toying with the idea of renewing their challenge against the Derby champion this weekend. Captain Steve, Hal's Hope and High Yield are all locks for the Preakness, while we'll know today for sure if Impeachment and More than Ready will vie for the Woodlawn Vase.

Filling out the field are horses who will make their Triple Crown debuts, led by Gotham Stakes winner Red Bullet, who will likely take the second favorite's position in the Preakness. Arkansas Derby runner-up Snuck In and a horse bearing the name of Playboy mansion heir Hugh Hefner also will take a crack at Fusaichi Pegasus this weekend.

"I've never been one to duck," replies Red Bullet's trainer Joe Orseno. "I have always been told 'Don't duck one horse.' Maybe a tough field, but one horse? Anything can happen with one horse. You can't say that he's unbeatable.

"Everybody thought that about Unbridled's Song (in 1996) and everybody thought that about (1979 Derby and Preakness champion) Spectacular Bid. And hey, Secretariat got beat. These are racehorses; these are not machines. They are animals, and they are vulnerable.

"There are a lot of ways to lose, and only one way to win. I respect him, but I am not going to say he's not beatable. He's definitely beatable."

Not only are the new horses facing the question of whether or not Pegasus is unbeatable, but also history. Not since 1983 has a horse skipped the Derby and won two weeks later in the Preakness. Disputed Testimony upset a field of 12 by two and three-quarters lengths 17 years ago.

"I wouldn't look to be betting against him," admits Snuck In's trainer Steve Asmussen, whose brother Cash will mount Snuck In. "It's quite obvious what an impressive race the horse ran, and what an outstanding individual that he is. How good is he going to get, nobody knows. He is running back in two weeks off his lifetime's best race. If that was nothing for him, he will move forward."

The odds are stacked against him, but Red Bullet has shared the stage with Fusaichi Pegasus before. The colt is ready to renew their rivalry based on Aptitude's finish in the Derby and Red Bullet's two victories over Aptitude in 2000.

"I have confidence going in with or without Aptitude's performance, but him being able to run the race he did, losing the ground he did, and only getting beat by the margin he did in the Derby to what looks like a pretty nice horse, it makes me feel a lot better about my chances," Orseno says. "With a clean trip, I think I have proven that my horse is probably a little better than Aptitude, and how much better do you have to be to be closer to Fusaichi?"

	“	There are a lot of ways to lose, and only one way to win. I respect him, but I am not going to say he's not beatable. He's definitely beatable. ”
		— Trainer Joe Orseno on Fusaichi Pegasus

In the Wood Memorial last month, Red Bullet raced out of the starting gates and exhausted himself too early to be able to hold off the charging Pegasus in the end, although he did keep Aptitude at bay.

"The way the outcome of the race turned out, my horse was used up trying to chase the leader and turning for home, I don't really run short horses, but I was out of horse," Orseno says. "I feel that four lengths, four and a half lengths is not that great a margin considering that my horse was stopping, not finishing. Which is why I was enthused to see Aptitude run second in the Derby because even though my horse was stopping, that horse still doesn't get by me."

In the Preakness, Orseno has contracted Jerry Bailey to board Red Bullet. Bailey rode War Chant in the Derby, and mounted Hansel to Pimlico's winner's circle in '91.

Three years in a row, the weeks leading up to the Belmont Stakes have erupted with anticipation of the 12th Triple Crown winner only to be denied. Orseno and Asmussen know the world is keen on the wild horse achieving the triple, but both are rolling the dice anticipating a possible upset.

"I can't make my horse have more talent than he has," Orseno says. "I think he has enough. I have to get my horse into the race at his best. If we do that and we run our race, then in my heart, I believe that we can win the race. But if he proves me wrong, there is nothing I can do about that. All I can do is what is good for my horse."