Wolves boss Mick McCarthy claims he does not know how much money he will have available to spend during the January transfer window, even though it will reopen in only three days' time.
McCarthy is reasonably content with a 19 point haul and 15th position heading into the new year, despite a double setback during the festive season against Liverpool and Manchester City.
But there has been speculation about a strained relationship with owner Steve Morgan since McCarthy fielded a reserve team against Manchester United at Old Trafford a fortnight ago.
McCarthy said: "If we had said after the Birmingham game a month ago that we would be sat here now with the points we've got and the position we're in, we'd all be happy.
"So let's keep the chins up and keep playing the way we are and pick up the points from the teams we are expected to get points from. Despite the results against Liverpool and Manchester City over Christmas, we've played really well against two of the top six teams.
"Am I happy with this squad going into the second half of the season? Yes. We are out of that bottom three halfway through the season. I don't know want business people like Portsmouth, Burnley, Bolton, Blackburn, Wigan will do in the transfer market but we are above some of them now.
"Can we do the same again during the second half of the season? I think so if we get Michael Kightly, Dave Edwards and Andy Keogh back from injury.''
But, when asked how much activity he will be involved in during the transfer window, McCarthy said: "I really don't know what will be available. It is a time when desperation strikes for a lot of people, whether they have to sell and some are desperate to buy, and prices and wages are raised. We will have to see.
"Do I know what I've got to spend? (laughs) Good question!. Is that a no? Have you had that conversation (with the owner)? I'm going to give you the same bland answer I did before.
"We will be having a look but wages keep rising and so are fees. We always keep looking but whether anyone can do anything......I am always on the lookout, alright. Thank you.''
In contrast, Wolves chief executive Jezz Moxey claimed the club would try to sign "one or two suitable players'' in January.
Moxey said: "We are not able to go out and splash out tens of millions of pounds to bring in what are guaranteed top quality international players. We have to operate within pragmatic limitations when compared to some of the big boys, although as ever recognising the need to support Mick in the transfer market as much as possible.
"To that end we are looking to see if we can find one or two suitable players to strengthen the squad when the transfer window re-opens. January is not a time for massive, wholesale changes to the squad. Indeed, it is not necessary.
"But we will try and do business for what we believe is the right player at the right price and myself, Steve (Morgan) and Mick are in regular dialogue about the possibility of bringing in new additions of the right talent and experience.
"We will continue to strive to formulate a squad containing two high quality players for every position as our battle for survival moves into its crucial second phase of the season.''