well there is one thing i know about peat, when it gets too dry, it gets hydrophobic. so there is a chance the bottom of your pot has no water because it's running through a path and out the sides.
just think about it this way... if a gallon of water weighs about 8lbs, and you put a gallon into a pot, with no run off it should be 8lbs heavier right? so if you water and see any run off, and your pot feels light, it probably needs more water!!!
i water about 1/2-3/4 of a gallon per container in flower with no runoff intended. i want all that water to stay in the soil. not so much that it runs out and oversaturates the soil... and makes a mess of my floor lol. sometimes though a good drench is necessary to get all that peat moistened back up if the soil gets wayy too dry... but it can't all be done at once. it needs to be watered in segments. like say you were to water 1 gallon into a pot that seems too dry, it should be done one quart at a time, every 20 or 30 min, to make sure the peat is absorbing all the water, and it's not forming runoff paths through the container.
here's another thing too, your hands have moisture sensors in them that detect THE SLIGHTEST amounts of moisture. this is not a good test IMO because even though you feel moisture, there is a point where water bonds tighter to the soil particles (ADHESION) than the plant can actually pull it away with its roots. this is known as HYGROSCOPIC soil. so you feel moisture... but is it available to your plant? i don't know.
another thing that really clicked for me in school was CEC. in order for CEC to be maximized you need what........... water!! you don't get ions in solution without water. so CEC can not take place without water in the soil, which leaves a plant starving for nutrients that don't get put into water solution.