@pillsbury
What kind of exercises were you doing before getting injured?? Those are both injuries of over-use. I had the same time of cyst on my wrist from gymnastics but I didn't pop it. I stopped putting heavy loads on it and I took lots of aspirin, and it disappeared in a couple of months.
You should take aspirin, vitamin E mixed tocopherols, and get some selenium from shellfish 2x a week. Put a warm wet rag on it for 10 minutes every day. Never use icy hot at the same time as the skin is wet, but icy hot or a similar menthol+camphor+methyl salicylate rub helps too.