lagunamadre

Your tree is beautiful. I can't tell, but are the leaves varigated? If so it would be the raspberry variety. It seems to be a bit over potted, which in inself could lead to over watering, but I also would not repot in now. I wonder that if you water and it does not come out the bottom, maybe you didn' t give it enough. Make sure that when you water, you water completely. The trick isn't how much but how often you water. Let it dry on the surface between waterings. Bougys have multiple cycles thru the year, and if it drops leaves and is healthy, new ones will come soon. They grow wild around here, I just air-layered two in my back yard that have 1 1/4 inch trunks, and I've seen them grow as high as the telephone wires some places. You might want to keep it outside in the summer, they like lots of sun. Good luck