Hi Joel,
If you can post a picture it would be helpful. It could potentially be blood or if your beardie ate something red (red beardie pellets, raspberries etc) it could also make the fecal matter turn red.
You can post a picture by uploading it to a photo sharing site (such as photobucket.com) and then copying the link into your post.
Also could you run through your husbandry and set up:
How old is your dragon
How long is your dragon
What size tank
what type (and name) is your
UVB light
What type of substrate is your beardie on
What do you feed your beardie (veggies and bugs)
Do you give your beardie a
bath, and how often
Have you have a vet checkup done or a fecal tested