I tried the tape trick that I saw on HGTV to keep the caulk from moving up the wall when removing the excess with your finger. I find this actually works.
The hardest part is getting the tape just right. If you get it too low, all the caulk you just put down will be wiped off when you remove the tape. If it's too far up the wall, there will be extra caulk that still needs to come off and that can get tricky to get off and still look as good as the rest.
At least the molding that has been put in is almost done being caulked. All the nail holes have been filled with wood filler and are drying. Tomorrow I'm hoping to finish the caulking and have the molding sanded. Then Wednesday it will all get the touch up painting to hide those nail holes.