How often you water isn't ultimately what determines whether or not you're over-watering8ng. THAT is determined by the volume of air remaining in the soil after you water, with soil choice playing a very large part in that equation. In the end, the greater the volume of air in your soil after you water, the greater will be its potential to produce healthy plants that grow well (near their genetic potential). Your trunk is wet because the soil is wet enough that water can move up the trunk, pulled upward by capillary action. In some cases, the periderm (bark layer) can begin rotting and hold more water than it normally would, but your picture doesn't indicate that to be the case, though root rot can't be ruled out as a possible cause either.

In most cases, switching to a soil that is well-aerated, structurally STABLE for the long term, and drains very well will save growers from having to deal with a very high % of issues like you're facing.

Al

Thanks for the reply. I went to a garden shop and they guy told me I should get some "Black Gold Soil" have you used this? I also bought some transplant shock liquid to give to this Dracaena.

Just wondering. The looks of your pot, does it have drainage holes in the bottom??