Dogwood Stable's Limehouse, fourth in the May 1 Kentucky Derby (gr. I), isn't likely to compete in the May 15 Preakness Stakes (gr. ) after all, Dogwood president Cot Campbell said May 3."(Trainer) Todd Pletcher and I felt that Limehouse ran his usual game race to be a highly creditable fourth in the Kentucky Derby, with a dream trip under Jose Santos," Campbell said in a release. "However, it is hard to arrive at a scenario in which we win the Preakness, with the present cast of characters."Smarty Jones and Lion Heart, first and second in the Kentucky Derby, are likely for the Preakness at Pimlico Race Course.Campbell said Limehouse could go in the June 5 Riva Ridge Stakes (gr. II) at Belmont Park or the June 12 Ohio Derby (gr. II) at Thistledown. "In the meantime, if there are major defections in the Preakness, we'll be ready to ship," he said.A 3-year-old son of Grand Slam, Limehouse won the Hutcheson Stakes (gr. II) and Tampa Bay Derby (gr. III) earlier this year.