What's my orchid plant doing now?

I bought an orchid plant in August, all flowered out and beautiful. After the pedals died and fell off I cut the stalk back half way like I'd read somewhere to do. I'd also read that orchids bloom once a year at the same time each year, but about a couple of months ago this plant started shooting out a new stalk which has grown about 12 inches long and sprouted 5 flower bulbs on it. A few days ago one of the new bulbs dried out and is dying and about to fall off. The rest still look healthy but I'm getting concerned now because of this. They haven't opened up yet but look like they could any day. This is weird! What's going on with this thing? If they all dry up and die should I cut the stalk back again? I didn't expect to see this until july or august.