Darren Ferguson told his triumphant players there is no room for sloppiness in the race to escape relegation.
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Ferguson was thrilled with his side's performance as they survived a late scare to sink Bolton 5-4 in a thriller at soggy London Road.
Only an inferior goal difference keeps Posh at the foot of the table after they secured back-to-back wins for the third time during a season in which all their victories have arrived in pairs.
Ferguson said: "It was a bit like the old days. We were outstanding for the vast majority of the match, but bang-average in the last few minutes.
"The game should really have been over at 5-2 and we can't afford the make the sort of lapses in concentration that we did late on.
"We are in a battle to stay up and goal difference could be a factor so we cannot afford to give soft goals away, but I don't want to be too critical of my players after producing such a good performance against a team that were in the Premier League this time last year.
"We've worked very hard lately and put everything into the last two games, so I'll give the players Christmas Day off.
"This is the third time we've managed back-to-back wins and now need to kick on and get a third in a massive game at Wolves on Boxing Day."
Posh produced an electric start to strike twice inside the opening six minutes. Lee Tomlin pounced on an error from Zat Knight to open the scoring before Dwight Gayle cleverly volleyed his fifth goal in four games.
The visitors were handed a lifeline on the stroke of half-time when referee Nigel Miller generously pointed to the spot following some pushing at a corner.
Keith Andrews made no mistake to fire his first Wanderers goal before Posh responded three minutes into the second half when West Brom loanee George Thorne strode through three challenges before opening his account for the club.
Another Andrews spot-kick after Joe Newell hauled down substitute Benik Afobe quickly reduced the visitors' arrears, but Posh had plenty more in the locker as two players ended 14-month goal droughts.
Newell went from villain to hero by laying on a fourth for Mark Little before Gaby Zakuani headed a fifth from Tomlin's corner with eight minutes to go.
But the match was far from over as Bolton mounted a desperate late charge and struck twice in as many minutes.
Afobe was left unmarked to nod in a corner from fellow substitute Martin Petrov before the Bulgarian slammed in an unstoppable strike moments later, but Posh held on.
Bolton boss Dougie Freedman said: "I'm obviously very disappointed with the result.
"We knew that individual mistakes could well influence a game played in very testing conditions and that is an area in which we let ourselves down.
"We weren't in the game for the opening 20 minutes and full credit to Peterborough for the way they started.
"But we were much-improved in the second half and it was pleasing to see the players continue to show such desire even when it looked as though the match had gone."