Created Unassigned: High resolution timing with WaveStream.Position [16416]

I'm working on a project that will change the color of lights based on the position in a song. I decided to use WaveStream.Position to do all of the timing and triggering for these color changes. First I used a timer to watch WaveStream.Position and that ended up being "too slow" and the timer would miss the point at which to change the color even set at 1 millisecond tick. So ended up creating a separate thread dedicated to watching the position but the problem still persisted. (all of my 'points' were at the correct position and multiples of the WaveStream's .BlockAlign)
Is there a way to get the wavestream's position at a much faster rate?
or is WaveStream.Position the wrong thing to be used in a situation like mine, if so, can you please recommend an alternative.

I apologize for any miss communication, as English is my second language

Thank you,
Justin