I currently have the following code, but I want to know how I can limit the output to only the latest 3 headlines from the RSS feed.

Code:
<?php

$insideitem = false;
$tag = "";
$title = "";
$description = "";
$link = "";

function startElement($parser, $name, $attrs) {
global $insideitem, $tag, $title, $description, $link;
if ($insideitem) {
  $tag = $name;
} elseif ($name == "ITEM") {
  $insideitem = true;
}
}

function endElement($parser, $name) {
global $insideitem, $tag, $title, $description, $link;
if ($name == "ITEM") {
  printf("<dt><a href='%s'>%s</a></dt>",
  trim($link),htmlspecialchars(trim($title)));
  $title = "";
  $description = "";
  $link = "";
  $insideitem = false;
}
}

function characterData($parser, $data) {
global $insideitem, $tag, $title, $description, $link;
if ($insideitem) {
switch ($tag) {
  case "TITLE":
  $title .= $data;
  break;
  break;
  case "LINK":
  $link .= $data;
  break;
}
}
}

$xml_parser = xml_parser_create();
xml_set_element_handler($xml_parser, "startElement", "endElement");
xml_set_character_data_handler($xml_parser, "characterData");
$fp = fopen("http://journals.maxpaynedev.com/recent/rss092.xml","r")
or die("Error reading RSS data.");
while ($data = fread($fp, 4096))
xml_parse($xml_parser, $data, feof($fp))
  or die(sprintf("XML error: %s at line %d",
  xml_error_string(xml_get_error_code($xml_parser)),
  xml_get_current_line_number($xml_parser)));
fclose($fp);
xml_parser_free($xml_parser);

?>
Thanks in advance.