Originally posted by Bobolink:
Pre-ejaculate (precum) is secreted from the penile orifice (top) of the penis. It can happen when a man is sexually excited and actually start before erection.
I can't speek for all men but my penis takes a while to go flacid after orgasm.
thestripes, everyone is totally inexperienced and uneducated about everything at one point in their lives, and its nothing to be ashamed of. "Precum" can show up at almost any stage of arousal. It's usually clear, and, in my case and probably many others, it comes out a little at a time as opposed to a stream or continuous dribble.
"Precum" is secreted from the urethra (same place as semen and urine), but it originates from deeper in the male reproductive system. If you look at the charts and such (I forget where they are now, but links would be helpful) you'll find the prostate, and that's where a good amount of the fluid in semen and precum is made. Also, the Cowper's glands are closer to the base of the penis and help with providing said lubricating fluids.
When your guy comes, you will know. Honestly, hun, you will know almost immediately.
Also, about your question concerning the penis going flaccid immediately after orgasm, this varies from guy to guy. As a personal example, mine stays hard, or relativlely hard for about 10-15 min afterwords (I wish it didn't take that long >< kind of annoying).