Please correct me if I'm wrong

I’m making a cabled mug cozy and I think I’m reading these instructions correctly…

" sl2 to CN, hold in back, K2, P2 from CN"

So I move 2 st to the cable needle I’m using, knit 2, move the stitches back to my primary needles, then purl 2. Right?

This my first cabled anything.

Here is a link for the pattern if anyone needs to see it:
http://www.knitpicks.com/patterns/Cabled_Mug_Cozy_Pattern__D50657220.html

" sl2 to CN, hold in back, K2, P2 from CN"

So I move 2 st to the cable needle I’m using, knit 2, move the stitches back to my primary needles, then purl 2. Right?

You may be doing it correctly, but you left out one part, “hold in back”. That means when you have the stitches on hold on the cable needle that you let them rest behind the needles, away from your body. Move the 2 to the cable needle as if you were purling them (purlwise), but just slip them. Hold in back. Knit 2 on the left needle, then P2 from cable needle. You can put them back on the left needle, but usually I just work them right off the cable needle, that is why it is pointed on both ends. Saves a step, and is quite easy if your cable needle is the right size.

I had thought that part was self-explanatory so I just stuck to asking about shuffling stitches between needles.