Bred and raced by John Ed Anthony's Loblolly Stable, he was a son of Danzig and grandson of the 20th century's most important sire in the United States, Northern Dancer.

In late October, he won the Grade III Nashua Stakes over a mile on the grass at Aqueduct under jockey Craig Perret in 1:46.14.

In mid-February 1992, he started his sophomore campaign by running second in the one-mile Southwest Stakes to future Preakness qualifier Big Sur of D. Wayne Lukas's stable.

In mid-March, he won the grade three Rebel Stakes with a time of 1:42.80 for the mile and one sixteenth with the nation's premier jockey, Jerry D. Bailey.

Jockey Jerry Bailey chose to ride second choice Technology at 2–1; Craig Perret, who had previously ridden Pine Bluff, was hired for the Derby.

Pine Bluff faded to fifth as Lil E. Tee, Casual Lies, and Dance Floor finished in the top three places.

He broke slowly from gate four in very close quarters and settled in eighth in a full field of 14 horses, passing the stands for the first time behind leader Big Sur.

Down the back stretch, Pine Bluff worked his way to the outside of the field five wide and started advancing on the first flight of horses.

Pine Bluff's racing career ended a few weeks after the Belmont, when he took a misstep during a routine training run and tore a ligament in his left foreleg.