Custom “The Loop” Problems

Hello,

In the process of creating a new theme, I need to make changes to the loop. So, I went over to the documentation of the loop, and grabbed one of the examples, and changed it to what I want it to do.

What I want to do is to first show the 1st latest post at the top. Then, I want to show the remaining x amount of latest posts in a totally different way.

Here’s the code that I have:

<?php
$my_query = new WP_Query('showposts=1');
while ($my_query->have_posts()) : $myquery->the_post();
$do_not_duplicate = $post->ID;
?>

<div class="post" id="post-<?php the_ID(); ?>">

<h2 class="post-title"><a href="<?php the_permalink() ?>" title="Permanent Link to <?php the_title(); ?>" rel="bookmark"><?php the_title(); ?></a></h2>
<small><?php the_time('F jS, Y \a\t g:i A'); echo ' by '; the_author(); ?></small>

<div class="entry">

<?php the_content('Read the rest of this entry &raquo;'); ?>

</div>

<p class="postmetadata">Posted in <?php the_category(', ') ?> | <?php edit_post_link('Edit', '', ' | '); ?>  <?php comments_popup_link('No Comments »', '1 Comment »', '% Comments »'); ?>

</div>

<?php endwhile; ?>

<?php
if (have_posts()) : while (have_posts()) : the_post();
if ($post->ID == $do_not_duplicate) continue; update_post_caches($posts);
?>

<div class="post" id="post-<?php the_ID(); ?>">

<h2 class="post-title"><a href="<?php the_permalink(); ?>" title="Permanent Link to <?php the_title(); ?>" rel="bookmark"><?php the_title(); ?></a><h2>
<small></small>

<div class="entry"></div>

<p class="postmetadata">

</div>

<?php endwhile; ?>

<div class="navigation">

<div class="alignleft"><?php next_posts_link('&laquo; Previous Entries') ?></div>
<div class="alignright"><?php previous_posts_link('Next Entries &raquo;') ?></div>

</div>

<?php else : ?>

<h2 class="center">Not Found</h2>
<p class="center">Sorry, but you are looking for something that isn't here.

<?php include (TEMPLATEPATH . "/searchform.php"); ?>
<?php endif; ?>

This is the error I’m getting:

PHP Fatal error: Call to a member function the_post() on a non-object in /home/xxxxx/public_html/xxxxx/xxxxx/wp-content/themes/xxxxx/index.php on line 9

Any ideas on what the problem is, and how I can fix it?

Thanks,
Matt