Franklin posted a time of 1:58.62 in the preliminaries this morning which was good enough for third place.
Allison Schmitt won the prelims in a time of 1:58.02 and Dana Vollmer was third with a time of 1:58.32.
Franklin will compete in two races tonight and if all goes right she will officially make the 2012 Olympic team.
She will try to qualify for the finals in the 200 Freestlyle and then competes in the final of the 100 meter backstroke.
Franklin will need to finish in the top 2 to in the backstroke to win an Olympic spot.