Ochid problem - need help
 

I have a PHALAENOPSIS orchid that is on it's way to blooming. It has
fully formed blooms, although it has not started to open.
Unfortunately, while I was moving it to water it, I bent the stem
about an inch below the first bud. I used a light piece of yarn and a
small piece of stick to support it, but this morning, it looks like
the buds are starting to die.
Is it possible for me to cut it off and place it in water, allowing it
to bloom? Or will I have to just wait until next year to see it bloom
again?
C
Sidenote - I bought the orchid without blooms from a clearance shelf.
The first time it bloomed, I was out of the country for 3 months and
had to see it through digital pictures. This is the second time and
I'm hoping there is a way to see it this year!