11/25/2004 1:00AM

Read the Footnotes is back

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OZONE PARK, N.Y. - One year ago this weekend, Read the Footnotes established himself as a serious Kentucky Derby candidate with a strong victory in the Remsen Stakes. Saturday, Read the Footnotes will try to lay the groundwork for becoming a serious player in next year's handicap division.

Away from the races since chipping a knee in the Kentucky Derby, Read the Footnotes is entered to run in a $58,000 allowance race at 6 1/2 furlongs at Aqueduct. Trainer Rick Violette is hoping to use this race as a prep for the Grade 1 Malibu at Santa Anita on Dec. 26.

"He's doing very, very good," Violette said. "It'd be nice to get a race into him before the Malibu. That would be terrific, and we would take advantage of it. He hasn't missed a beat. He looks great."

won 5 of 6 starts as a 2-year-old, including the Nashua and Remsen. He began his 3-year-old season with a hard-fought neck victory over Second of June in the Fountain of Youth. After running fourth in the Florida Derby, Read the Footnotes trained up to the Kentucky Derby, where he finished seventh, 14 3/4 lengths behind Smarty Jones. He came out of the race with a bone chip in a knee that required surgery.

"At the half-mile pole we're following Smarty Jones in hand," Violette said. "Our run didn't last. It was not typical of him; he got hurt. His race in the Fountain of Youth was huge. It's still one of the best 3-year-old races of the year. It'd be nice to have a horse of this caliber back."

Read the Footnotes drew post 7 and will be ridden by Jerry Bailey.

His competition will include , a stakes-winning 3-year-old of 2003 who just finished second in a one-mile allowance race on Nov. 19; Dubai Sheikh, who was scratched out of the Fall Highweight; and Multiple Choice, who won the Grade 3 Jaipur on turf earlier this year.

Can Pavo keep Paraneck rolling?

Ernie Paragallo's Paraneck Stable usually does its best during Aqueduct's inner-track meet. This year, it started rolling six weeks early, accruing seven wins during the main-track meet, which ends Sunday.

Paragallo and his trainer, Jennifer Pedersen, hope to continue their successful run by pulling a surprise in Saturday's Remsen Stakes with Pavo. A son of Marquetry, Pavo won his maiden by five lengths in a one-mile maiden race here on Nov. 2. Pavo takes a major step up when he meets unbeaten juveniles Rockport Harbor and Galloping Grocer in the Remsen.

"I'm glad they're in there," Pedersen said. "They can worry about each other. He can sit right off of them."

Pedersen is stabled at Aqueduct and believes a lot of her recent success is due to running at her home track.

One horse who ran well at this meet but did not win is New York Hero, who is entered against Read the Footnotes in an allowance race on Saturday.

Pedersen said that Redskin Warrior, a stakes winner who has not run since May, had a splint bone removed and will likely not be ready until the spring. Song of the Sword, who competed in the Derby and Preakness, will be ready to run next month. Song of the Sword last ran in the Pennsylvania Derby, finishing seventh. Pedersen said the horse fell down in the post parade and knocked out a tooth.

Bwana Charlie out of Fall Highweight

Before the Fall Highweight was postponed when the final seven races of Thursday's card were scrapped, morning-line favorite Bwana Charlie was scratched out of the race. It is unlikely he will be entered back when the race is run on Sunday.

Trainer Steve Asmussen said Bwana Charlie did not eat up on Wednesday night. Asmussen pulled a blood test on Bwana Charlie but had not received the results as of Thursday morning. Bwana Charlie, who finished fourth in the Breeders' Cup Sprint, was assigned 137 pounds for the Fall Highweight.

"I don't think it's anything serious, but you're not going to run one in a graded stakes off of not eating," Asmussen said.