‘read more’ links in posts

Hello,

I have a few static pages where I pull in the latest 3 posts. I am using the following code to achieve this…

<?php } ?>
<?php $my_query = new WP_Query(‘cat=3&showposts=1’); ?>
<?php while ($my_query->have_posts()) : $my_query->the_post(); ?>
<p class=”post”>
<h2>
<?php the_title(); ?></h2>
</p>
<div class=”entry”>
<div class=”innerpost”><p>
<?php the_content(); ?>
<?php _e(‘Filed under:’); ?> <?php the_category(‘, ‘) ?> on <?php the_time(‘F jS, Y’) ?> <?php _e(‘by’); ?> <?php the_author(); ?>
<?php comments_popup_link(‘No Comments ?’, ‘1 Comment ?’, ‘% Comments ?’); ?> <?php edit_post_link(‘Edit’, ‘ | ‘, ”); ?>

But the code pulls in the entire post, even though I have a ‘read more’ break in the post. I was hoping to display a few lines then the read more link. Any ideas how I can get it to work. Thank you.