The back-to-back-to-back champion has had a mixed start to the season with two losses in the opening round.
But worryingly for the Dunedin Thunder, its Queenstown rival is heading in a steep upward trajectory.
It bounced back to record two heavy wins against the Canterbury Red Devils.
The Thunder had has two wins in six games but produced its best performance of the season to beat the Botany Swarm 8-4 in Dunedin on Saturday.
That victory has perhaps spooked Blanchett a little. He described the Thunder as a "good young team" which will present his side a stern challenge.
But his suggestion the Stampede was chasing the Thunder is a stretch, especially considering how happy he is with his side's progress.
"We had realistic expectations about that first weekend," Blanchett said when asked about the 5-2 and 6-3 defeats to the West Auckland Admirals.
"Playing one of the top teams on the road first week of the tournament is always a tough challenge and I think it is pretty important not to get too critical on ourselves.
"Obviously it was always going to be about how we bounced back and the boys responded in a big way."
The Stampede's imports arrived in the country about four days before the opening weekend, which made any meaningful preparation impossible.
But the team was in much better form against the Red Devils and Blanchett is hopeful his side can build on its momentum tonight, and in game two tomorrow.
It will be the Stampede's first home games for the season.
For former Thunder goalie Daniel Lee it will be an opportunity to remind his team-mates how difficult it is to get the puck past him. He is a key player for the Stampede, alongside returning imports Mike McRae and Colin McIntosh.
