cutting an old spike

[rehric00]

My phal is just about to drop its last few flowers. I am anxious to get this thing repotted. Should I cut the spike all the way off at the base of the plant? Or I have heard of people cutting below or above the nodes... I am not sure where to cut those at... I have just heard you can get them to rebloom sometimes if you dont cut the whole spike off, I just dont know where to cut it.

Thanks!!