Tiff,

I agree with Ray; yiou are far too solicitous of this plant! Stop doing
stuff for it!

Also, orchids can be finicky about their micro climates. When you brought it
home, it was being moved, most likely, for the second (or more) time, at
least from nursery to retailer to your home. Then, in your environment, it
was moved once more. Give the beauty a rest. Producing flowers is
stressful for any plant, and just like us, they like "comfort zones".
Imagine if you had to sleep on a strange mattress every night!

You have drenched it sufficiently for the moment. Don't let it dry out
completely, but don't keep is sopping wet, either. Phals like indirect
light. Enjoy it, and don't worry about a lost bud or two. It's not
uncommon when we bring plants into a new environment.

Diana