This does not sound good. Oozing is a sign of borer activity, which, once started, is difficult to control. The clearwing moth lays eggs on the base of the tree trunk and upper roots, and the larvaae tunnel into the tree just below the bark. Preventative sprays (permethrin, carbaryl) from eaarly July through September may help. But frmo your description, by July it may be too late.
See here for more information: http://extension.usu.edu/files/publications/factsheet/plum-pests.pdf
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