I think you're right, you have lost perspective:A 5-2 defeat at home to Watford definitely suggests wrong direction to me.
Maybe the years of underachieving have just taken their toll on me and I've lost all perspective, but I can't see how things are going to turn around. We aren't very good, are easy to score against, can't defend set plays properly and the manager is very unpopular.
The defeats to Villa and Watford were both down to 10-15 minute periods where the team lost their heads and basically surrendered, instead of digging in, and doing the ugly stuff to wrestle back some control. I think we did enough to win the QPR game, so it's only West Ham, really, that dominated and controlled us. It's the on-field leadership and character that seems lacking. Patience needed. Better to focus on your support for the Blues than your hatred for the manager.