I believe i have a follicular cyst (have had them in the past), as well as slight vaginal bleeding. wondering if i should "watch and wait" it out. ?

See a GYN MD: The size and composition of your presumptive "follicular cyst" is tantamount to deciding whether a decision to "watch and wait" or act is appropriate. Moreover, you are bleeding vaginally and the source is "unknown". Have a GYN MD exam you and clear up the above questions first, and then an intelligent decision, in concert with the GYN MD's advice, can be made based upon facts.