You're going about it all wrong. If you want it smooth, you have to let it wear, NOT lubricate it.
Squirt some dish soap into the action, and work the bladeopen and close a few dozen times. This will emulsify whatever oil is between the blade and scales. Then, run it under the hottest water you can get out of your tap, again while workign the action, to flush out the soap and oil. Blow it out with compressed air, if you have it, or just blow hard with your mouth, to dry.
Once dry, keep working the action. It'll be rough, but without any oil, it'll smooth down the mating surfaces. It might get rougher, as metal wears off; if so, repeat the soap and water routine.
Once it works reasonably smooth when dry, THEN add a good oil like Militec, Tuff-Glide, Breakfree, mineral oil, or whatever you like. (Not WD-40, though, please. It's a solvent and cleaner, not a lubricant, no matter what the can might say.) Now, it should be reasonably smooth.