Joe; What Taylor said! That is the way to apply an oil finish. It takes time, always allow the previous coat to cure before applying another. If you see any signs of a milky like, rather sticky, build up then wait, the coat isn't cured. 24 hours is not always enough, it is according to humidity conditions so only use 24 hours as a rule of thumb, not an absolute, it might take 48 hours.
Unlike Taylor I do not use a small cloth pad for those followup thin coats after the initial heavier coat of unthinned Chambers Oil, I just use a small drop on my index finger and go to rubbing it on a small area until I feel it becoming tacky. If there are light streaks in it at that point - no matter, I leave them. I continue until the whole stock is covered, then let that very thin coat cure. I do the same several more times, you'll find that the streaks level with the subsequent coats, to a degree. don't sweat it if you can see some after completing the stock each time. Once I have anywhere from five to seven thin coats the stock is looking good, now it is time for the next phase - leveling all and bringing out that high satin sheen we want.
This is done with a fine (4F grade) pumice powder and a dobber. You can find Behlen brand pumice on the internet, you can make the dobber. Cut a four inch square piece of cotton cloth, place either more cloth in the middle or a small bit of soft foam material, twist the cloth together and tie it off with string. You will want some mineral oil, it acts as a lubricant. Dust a small area of the stock, dampen the dobber with the mineral oil, VERY lightly begin to rub the stock, in circles. It takes only a wee bit of pressure, keep moving to new areas adding pumice and recharging with mineral oil as you progress. What you are doing is leveling the surface, only the surface. If you rub too hard you'll quickly remove those hard won top coats.
dave