Missing first post…

I can’t seem to figure out why the first post is not showing up. I don’t know much about php, but here it is if you can figure out what is causing the first post not to show up:

<?php get_header(); ?>

<div id="content">
<div class="orange">
<?php if (have_posts()) : the_post(); ?>

		<?php while (have_posts()) : the_post(); ?>

			<div id="post-<?php the_ID(); ?>" class="post">
				<h2 class="coney-title"><a href="<?php the_permalink() ?>" rel="bookmark" title="Permanent Link to <?php the_title(); ?>"><?php the_title(); ?></a></h2>
				<p class="meta author"><span class="author">Posted by <a href=""><?php the_author(); ?></a>&nbsp;<?php the_time('F jS, Y') ?></span></p>
				<div class="entry">
					<?php the_content('Read the rest of this entry &raquo;'); ?>
				</div>
				<p class="tags"><?php the_tags('Tags: ', ', ', ' '); ?></p>
						<p class="links">
							<a href="<?php the_permalink() ?>" rel="bookmark" title="Permanent Link to <?php the_title(); ?>" class="readmore">Read full article</a>
							<b>&nbsp;&nbsp;</b>
							<?php comments_popup_link('No Comments', '1 Comment', '% Comments', 'comments'); ?>
						</p>
			</div>

		<?php endwhile; ?>

<?php else : ?>

	<div class="post">
		<h1 class="title">Not Found</h1>
		<div class="entry">
			<p>Sorry, but you are looking for something that isn't here.</p>
		</div>
	</div>

<?php endif; ?>

</div>
</div>
<!-- end content -->

<div id="sidebar">
<img src="../images/coney.jpg" alt="Coney" class="coney"/>
</div>

<?php get_footer(); ?>

Thanks!