Decks, Patios, Porches and Docks - Apply water seal?

Hi,
I am in the process of finishing a wood fence. The posts are pressure treated and the slats are cedar (1x6) . I was planning on applying a water sealant (Thompsons) when I finished. Well, it is starting to rain. I live in Seattle where once the summer ends, it rains a lot. The can of Thompsons water sealant says to apply on dry wood.

The forcast is for rain for the next few weeks. Should I just apply the sealant even if the wood isn't entirely dry or would it be better just to wait (could be weeks/months) until we get a good dry spell. When that happens apply the sealant and hope it doesn't rain for a couple of days. (i.e. which is better applying a sealant to not completely dry wood or have the wood exposed for a couple of months before applying anything.)

Or does it really not matter too much.....

Thanks

If you have done any research in this forum, you know that NOBODY is going to suggest that you use use Thompson's.

Now that Sept. is here, the forecast for Seattle is for rain until MAY (maybe later! -- Just ask Ray Ramsey!!)

At this point, I would wait until next summer, then apply Cabot's, SuperDeck, Silkens, ...