Two blogs, same database

Hi,

I have a blog (www.garphult.com) and I’d like to create another one on the same server (just a different directory, lets say http://www.garphult.com/blog2). Here’s my problem:

If possible I’d like to control both blogs from the same Admin Panel. I was thinking if it’s possible to create a category (lets say “blog2) and what I post in there will show up on the second blog (but not on the first one). Is this possible?

Thanks in advance.

Niklas