Boro twice fought back to level at 2-2, only for Kevin Doyle to pop up with a 70th minute headed winner and condemn the visitors to a fourth successive loss.
Middlesbrough have won just once in nine games and have taken only a point from their last nine matches on the road, pushing them down to ninth in the Championship and six points from the play-off spots.
"I stopped looking at the table in my mind a few weeks ago," said Mowbray. "We just have to win football matches. If we win games let's see where the season takes us. But obviously we are finding it difficult to matches at the moment.
"Yet if we had won at Derby County on New Year's Day we could have gone top of the table and that is the stark reality of our position. Confidence does get eroded with defeats and yet the defeats probably come along because you don't have key players available.
"I felt that we gave Wolves a tough game but the reality is that we did not get any points. It is about getting points and I could not see us losing the game.
"But if you analyse our season we have conceded way too many goals for a team that can get out of this league. That needs to be addressed but in the meantime we have to attack games as draws are no good for us at the moment.
"Reaching the play-offs is a big ask for us but things can change quickly and this is a ridiculous league this year. Don't pick your coupon on the Championship is what I would suggest."