For the plant to loose its leaves at this time of the year is normal. Reduce watering as you have started. The new shoot will probably continue to grow. When it is big enough, start increasing watering.So, this little sucker has lost it's leaves and is, despite my holding back the water, putting out new growth! I don't understand the poor thing. Maybe not cool enough? Either way, I hate to be mean to the little guy, but the reason I wanted it was because it bloomed without foliage...hope he's just confused by something I did.