a similar thing happened to my eyebrow piercing, it was like a red, bloody lump underneath the bottom ball. I went to my piercer and she said it looked like trapped fluid, so she took it out for me, squeezed it and out gushed a LOT of lymph. She said this was because I was knocking it (which admittedly I did, i would always forget it was there!) and she changed it to a much smaller bar for me.
It was absolutely fine for a few weeks until the same happened again- then I took it out. A lot of women have problems healing eyebrows piercings as they don't have the thick 'Neanderthal' ridge of skin where their brows are like men do.
What I do with my cheek piercings to draw out fluid and to sooth the area is to get a chamomile teabag, stew it, wait for it to cool slightly until it's just bearably hot and press it to my piercing until it cools. I do this twice a day every other day, and on my nostrils too, and it works a charm.
If you have any doubts though I'd go straight back to your piercer, they'd be able to give a better diagnosis
also, just an afterthought, it could just be irritation- what material is the new jewellery?