A couple things to add to kazoo's tips. Like kazoo said, get top shelf caulking. The phrase "You get what you pay for." is gospel when it comes to caulking. I prefer to use the silicone caulking instead of the latex. It seems to stick better.
Be sure and have the area where you are going to be laying the caulking completely dry. If you are caulking along wall panels, make sure there is no water behind the panels. I've had to come back a couple weeks later after doing caulking to find out that everything wasn't dry and the caulking hadn't stuck to anything that still had moisture in behind.
As Kazoo said about using your finger to smool the caulking down, wet your finger a little bit before smoothing. Then caulking won't stick to your finger and will give a smooter apperance.
Let us know how it went and good luck!
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