First the good news. Michael Owen is back and he looked fit and well at Reading, if not entirely match sharp after almost a year on the sidelines.
But that, I'm afraid is where the good news ends. Newcastle were, as has become the norm away from home this season, limp, lethargic and lightweight.
It begs the question, having waited for 15 months to start a game in a black and white shirt, what must Owen think now he's back? What have I done perhaps!
We are not going to see the best of Owen until next season, the final two games against Blackburn and Watford are more about him trying to regain the sharpness that made him one of the most respected out and out goalscorers than anything else.
But at least it will give supporters something to take their minds of the utterly joyless experience of watching the rest of their team.
Glenn Roeder insisted Newcastle had played well. I'm afraid United's manager is wrong. They were poor except for a bright spell at the start and end. Yes Newcastle had chances, but so did Reading, a side only promoted from the Championship last season with a budget which pales in comparison to United's.
Kieron Dyer was made captain for the game and was shocking, as was Emre, Antoine Sibierski, Titus Bramble, Nolberto Solano and Obafemi Martins.
That is surely far too many individuals to merely put down to a bad day the office, there appears to be something seriously wrong in the dressing room and it is poisoning the atmosphere.
The defeat at the Madjeski Stadium means Newcastle have now lost more games on the road than at any time in their Premiership history and they are in real danger of securing their lowest possible finish.
Despite a strikeforce containing £27m worth of talent - alright Owen is only just returning from a serious injury but still - it was also the eighth game in 11 in which they have failed to score.
Michael Owen is not a miracle maker but that is starting to look exactly what Newcastle need to turn things around.
I hate to say it, but this season cannot end quickly enough for Roeder and his players and then there needs to be a serious contemplation about where this team is going. Down the pan looks about right at the moment.
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