Lambert's policy of bringing in young and hungry talent, via the £23 million made available to him by club owner Randy Lerner last summer, is now coming under intense scrutiny.
He said: "You can't panic. There's a long, long way to go. There will be loads of twists and turns in this whole thing.
"We didn't want to be in the bottom three after 22 games but nothing is set in stone in football and you just keep meeting the challenge head on.
"You've just got to keep going. There is no secret formula in football. Better managers than myself will tell you that.
"It is disappointing to lose the way we did via the penalty but that's the way things seem to be going for us at the moment. We are not getting the little breaks you need."