First attempts

OMG! My weird code works! (P.S. It works in Python 2.7)

import string
punct = set(string.punctuation)
longest = None
smallest = None
text = raw_input('Enter some text:')
free_text = ''.join(x for x in text if x not in punct)
words = free_text.split()
number = len(words)
total = 0
for word in words:
	summa = total + len(word)
	total = summa
	while longest is None or len(word) > len(longest):
		longest = word
	while smallest is None or len(word) < len(smallest):
		smallest = word
if number < 1:
	print 'number of words:', number
	print 'end of program'
else:
	print 'number of letters:', summa
	print 'number of words:', number
	print 'longest word is:', longest
	print 'shortest word is:', smallest
	print 'avarage word lenght is:', float(summa)/number
	print 'end of program'

But later on I figured out that there are a bunch of functions to write this code ten times shorter...