May 17, 2001 1:24 AM

The draw and morning lines for the 126th running of the Preakness were announced Wednesday afternoon in Baltimore, Md.

Kentucky Derby winner Monarchos is the favorite at 2-1 and is in the seventh post this Saturday. Monarchos’ trainer John Ward had the second choice for post.

Point Given, the closing Derby favorite, drew the last post choice again and was stuck with the 11th post. Point Given is 3-1.

There are only 11 horses in the race, which has a 3:04 p.m. Pacific post time.

Other horses in the Preakness include Marciano who is in the first post at 30-1, Mr. John who is in the second at 20-1, Griffinite is who in the third at 50-1, A P Valentine who is in the fourth at 10-1, Congaree who is in the fifth at 5-2, Richly Blended who is in the sixth at 10-1, Percy Hope who is in the eighth at 50-1, Bay Eagle who is in the ninth at 30-1, and Dollar Bill who is in the 10th at 12-1.