| It depends ..
If you want to see if it puts out more flowers, I would cut back to just above the first bump/nub right below the flowers. You may get another spike to grow from there (or a Keiki depending on the plant's mood). If you're done with the flowers and want it to rest for next year, I would suggest to cut back to the leaves (about an inch above).
Phals can be prolific bloomers (certain varieties) but they can also be overbloomed where the plant will bloom itself to death.
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Tom
Richardson, Texas
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