What's this on my Elm Tree?

[commok]

I have two of these "wounds" on my tree. Looking at other forums (Gardenweb and Arbor Day) it appears to be "wetwood," or slime flux, and supposedly its not harmful, but it sure looks bad to me. Anyone have a diagnosis, or a way to treat? The tree is healthy, as best I can tell, but this has me worried... Once again, according to the other forums, there is no treatment, but I figure the experts here may have a thought or two. Thanks!

 

[forgeblast]

I am wondering if its dutch elm disease. all of my elms are in various stages of dieing. some are just taking longer then others.