You might want to test to be sure, but a discharge when you squeeze is pretty normal.
Aj
I also developed this itch. I didn't pay much attention to it at first i figured it would go away. But one morning when i woke up I felt some kind of crust at the opening of my penis I figured it was seaman since I masturbated the night before. I went to the bathroom peeled it off and thought nothing of it. But I don't know what made me sqeeze my shaft later on that day but when I did, I saw some milky fluid surface...it then went back in when i let go. This dicharge only come out when i sqeeze. My urine is hotter than usually but doesn't burn. It actually releives the itching feeling for a while. What can this be and what causes it.
It doesn't sound like herpes (and I don't know why everyone always thinks of herpes first), but it could be an std.
If you and your gf are both symptomatic, you both should get tested for stds, including gonorrhea, chlamydia, and herpes, if that's a concern.
AJ