03/16/2006 12:00AM

Derby Watch rankings for March 17

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Who's Hot, Who's Not

WHO'S HOT: Discreet Cat, who captured his lone start last year at Saratoga and was a runaway winner of his 2006 debut last week at Nad Al Sheba, is the only newcomer to this week's Derby Watch top 25. He is 40-1 on the Kentucky Derby future line set by Mike Watchmaker, Daily Racing Form's national handicapper. Cause to Believe, who won last Saturday's California Derby, is now 30-1 after being 40-1 one week ago.

WHO'S NOT: To make room for Discreet Cat, Henny Hughes was dropped from the list. Now based in Dubai, Henny Hughes has not raced since finishing second in the Breeders' Cup Juvenile, and there always have been concerns about his ability to handle two turns, let alone 1 1/4 miles.

ON THE BUBBLE: There was not much movement on the Derby Watch list from last week, because there was only one race of significance, the California Derby, and favored Cause to Believe won. This week could be far different. There are four Derby preps - the Gotham, Rebel, San Felipe, and Tampa Bay Derby - and 12 of the top 25 members of Derby Watch are scheduled to put their rankings on the line.