If you mean right after conception, it could be a few different fluids coming out. If you mean days afterward, all women have discharge and its not necessarily from conception. Once the baby starts forming inside, you will most likely see a drier area down there, because the baby starts to consume all extra fluids that are in the body to maintain moisture in the sac. No, not semen, your fluids only; that's why you must drink more fluids than usual during pregnancy. Not alcohol, though.