  In the present paper we discuss the cabling procedure for the colored HOMFLY
polynomial. We describe how it can be used and how one can find all the
quantities such as projectors and $\mathcal{R}$-matrices, which are needed in
this procedure. The constructed matrix forms of the projectors and the
fundamental $\mathcal{R}$-matrices allow one in principle (neglecting the
computational difficulties) to find the HOMFLY polynomial in any representation
for any knot. We also discuss the group theory explanation of the cabling
procedure. This leads to the explanations of the form of the fundamental
$\mathcal{R}$-matrices and illuminates several conjectures proposed in previous
papers.
