Just a quick update:
I talked to the Porsche dealer today, and they said they couldn't find anything obvious wrong with the car. The coolant tank was fine, all the hoses where fine, and that the problem could be only one of two things. One it that the instrument cluster was showing a bad reading and that the complete coolant drain was a weird occurrence.
The second thing it could be, is the water pump. The water pump drains out of the coolant overflow above the right rear tire (where I saw the coolant come out), and it would cause the overheating at low speeds, and not high speeds that I have been seeing. This explanation fits all the symptoms of my problem.
Here's the problem. If they pull the water pump out and nothing is wrong, I get stuck with the bill. If something is wrong then I don't have to pay anything except the deductible.
Has anyone replaced a water pump, what did it cost?
What is the likely hood of it being the water pump?
Thanks Everyone!