Manager Alan Pardew admits Newcastle's 2-2 draw with Wolves felt like a defeat after his side threw away a two-goal lead at home on Saturday.
The Magpies took control in front of their home crowd when Papiss Cisse netted in just the sixth minute before Jonas Gutierrez fired home 12 minutes later.
But Wolves produced a stunning comeback in the second half as Matt Jarvis and Kevin Doyle secured them a share of the spoils.
Pardew was disappointed not to claim all three points but glad to take something from the clash following Newcastle's deflating 5-0 demolition at Tottenham last time out.
"It obviously feels like a defeat really," he told Sky Sports.
"When you're 2-0 up and you're Newcastle United at home, at half time, you've got to win, and unfortunately we haven't.
"The opposition had a good part to play in that. They had a great attitude, they wouldn't lie down. They got a bit of a fortunate goal and they ended up getting a point, which they probably deserved.
"But for us I'm not overly disappointed. It could be a lot worse. After Spurs we needed to just get ourselves back to something like our normal selves, which we were today. But we still should have won."
The manager admits there is room for improvement in his side and knows they need to stop shipping goals if they are to continue pushing for a surprise top-four Premier League finish.
"We were a bit rusty in areas and our passing wasn't as fluid as it normally is," he added. "(We were) cheap with possession at times. But we got goals in our team.
"The one thing we've got to stop is giving goals away. The second goal was really disappointing. We've still got bits to work on."
Key duo Yohan Cabaye and Cheick Tiote returned for the clash, with the former having served a three-match suspension, while Tiote was making his comeback from the Africa Cup of Nations.
Pardew was pleased to see them both get a game under their belts ahead of next weekend's visit of Sunderland.
He added: "That game will do them well, especially Cabaye and Cheick.
"I think they needed that game. We've got a huge game next week for this football club and they'll be in better shape for that."