Bolton were held to a 2-2 draw at Stoke, with two dubious refereeing decisions going against Davies and his team-mates for the Potters goals.
"It's difficult to take right now and you just want to go and bury your head somewhere. It will be that way for weeks," he told the Bolton News.
"But there will be a time to reflect and by pre-season the club will have made a decision on a number of players, so hopefully we can rebuild and get a squad that's good enough to bounce straight back.
"We won't make excuses because we were in a position to win this game and looked comfortable, but we haven't managed to do it. It was the same last week when we should have closed it out.
"I never thought this day would come. I always believed we'd do enough to save ourselves.
"Everyone will accept that responsibility - from the manager through to every player in the squad because at the end of the day we haven't been good enough to stay up."