Two juveniles from the Anthony Freedman stable have played starring roles in the respective Blue Diamond Preludes on a day the market for Victoria's premier juvenile race has had a major shake-up.

Freedman is set to have a strong hand in the $1.5 million Group One Blue Diamond (1200m) for two-year-olds in two weeks after Lyre emerged as a genuine contender with victory in Saturday's fillies Prelude over 1100m at Caulfield.

Lyre's stablemate I Am Immortal had earlier won the Prelude for colts and geldings, with that colt now unbeaten from two starts.

Lyre has firmed from $26 to $8 for the Blue Diamond on the third line of betting while I Am Immortal remains an $11 chance.

Loving Gaby, who won the Chairman's Stakes in impressive fashion on debut last week, is the new favourite at $4 while former favourite and the previously unbeaten Catch Me has drifted from $4 to $11 after fading into 10th placing behind Lyre on Saturday.

Brooklyn Hustle, fifth in the fillies Prelude, also drifted from $6 to $11 while the James Cummings-trained Athiri is now on the second line of betting at $5 after her third placing in the fillies Prelude.

Godolphin-owned Lyre was a luckless fifth on debut at Flemington on January 1 before winning a maiden at Sale.

She took another major step up on Saturday, beating Vinicunca by a long neck with Athiri another neck away third.

"This filly worked huge on Tuesday and she's improved out of sight since her win at Sale," Freedman's son and assistant trainer, Sam Freedman, said.

"We were expecting her to run really well. She was well over the odds (at $26).

"She's hopefully going to line up in the Blue Diamond now and if they think the fillies are better (than the colts), she should be right there."

He said Lyre and I Am Immortal were "very different" styles of horses heading towards the Blue Diamond.

"Lyre has got great scope and once she gets to three (years old) she will be a nicer filly as well," he said.

"She (Lyre) is still a bit green and learning about it all.

"I Am Immortal is a very straight forward colt and knows his job. And he's very fast."