Which way is up? (head gasket, that is)

[thaugen]

I bought a 2000 S10 4.3 knowing water was coming out 2 spark plug holes on passenger side. As expected, blown head gasket/cracked head, bought a new head and gaskets, here's my question: The new head gasket has a thin bead of silicone running all around on one side, but I've looked all over the 'net and can't find out which side goes up. Haven't changed a H'gasket in 30 years - is this a dumb question?

Also, bought new TTY headbolts with sealant on them. From what I've read, no lube should be put on the threads so as to not mess up the sealant, but should I lube under the bolt heads to enable torqage?