The internal cable is made of a spiral wound bundle of spring wires. If one of the strands fractures (very common) it will rotate with a jerky thump no matter how well it is lubed. Get a new cable core. My dad worked for Stewart Warner on Fullerton Ave. in Chicago in the early 60's, where they made speedos and cables. Chrysler was a big customer. The cable off the ball mill winding machines was tested for evenness of strand tension and rotational speed when bent and rotated. The good stuff went to Chrysler, the reject stuff went into Schwinn bicycle speedos. Every year my bicycle had the latest Chrysler dash with a great big 120 mph speedo.