Stripping the emotion away from a heartbreaking defeat by Manchester United at Bloomfield Road, when the Seasiders looked set to enjoy one of the greatest nights in their history, the brutal truth is Blackpool have now taken just three points from six games.
A terrible January leaves them hovering six points above the drop zone, a perfectly adequate state of affairs given bleak pre-season expectations, but worrying nonetheless as the pressure starts to mount.
Added to the mix is continued uncertainty over skipper Charlie Adam and the difficulty Holloway is having bringing new faces to the club, and clearly the task of guiding Blackpool to safety is not going to be easy.
"If you knew where we are and where everyone else is, we shouldn't be doing this," said Holloway.
"I am just a fresh-faced learner but I am starting to find out what other people are paying. I am absolutely gobsmacked. I want my lads to get the same one day - but it has to be the right day for this club."
Blackpool in for Swindons Austin
Swindon Town have received a bid for top scorer Charlie Austin from Premier League side Blackpool.The 21-year-old asked for a move away from the County Ground last week amid speculation linking him with several clubs including Burnley.
But Swindon manager Danny Wilson admitted on Tuesday the only serious bid had come from the Tangerines.
"As far as we're concerned there is one offer that is fairly close and that's Blackpool," he told BBC Wiltshire
"I don't know today, because [chairman] Andrew Fitton is in America, whether he's received anything.
We'll try and get the best out of him, we'll try and get results with him in the team and I'll try and keep him as long as I can
"So I can't comment but the last I heard that [Blackpool] one was the one that was coming near to our valuation."
Speaking after Swindon's 0-0 draw with Tranmere where Austin missed a first-half penalty, Wilson was in bullish mood.
"As I've said before it doesn't make any difference to me as we have to prepare with the players we have at our disposal," he said.
"Charlie's still our player and until we hear otherwise we'll treat him as we always have done.
"We'll try and get the best out of him, we'll try and get results with him in the team and I'll try and keep him as long as I can."
Holloway plans to hold on to Adam
Blackpool boss Ian Holloway wants to keep in-demand midfielder Charlie Adam until the end of the season.Adam, 25, put in a transfer request after Liverpool lodged a £4m bid for him, with Aston Villa and Birmingham also interested in the Scot.
"Charlie will have to accept whatever we do," said Holloway, after his side were beaten 3-2 by Manchester United.
"In the summer he will have 12 months left on his contract. [That is] a whole new ball park."
He added: "I'll speak to the owners and let them know how Charlie feels but we have a duty to the fans to run the club professionally." Holloway also hit back at Aston Villa boss Gerard Houllier, who was unhappy with the criticism aimed at him by the Blackpool boss over the pursuit of Adam.
I think Holloway is getting confused about the price of Adam ... in the market today he is worth £5m tops
"I don't talk about other teams' players," said Holloway. "Mr Houllier didn't do that. He said they had made an offer and we hadn't got back to him and Charlie is really good. What is that to do with him? How unsettling is that?"
Scotland international Adam helped his side go 2-0 up at home to United when he supplied the corners from which Craig Cathcart and DJ Campbell scored for the Bloomfield Road outfit.
The Seasiders were denied a second-half penalty when Rafael Da Silva appeared to foul Luke Varney but referee Peter Walton ignored Blackpool's appeals.
A Javier Hernandez goal was sandwiched in between two Dimitar Berbatov efforts as the visitors earned a victory that gave them a five-point lead at the top of the Premier League.