Darren Moore admitted he did not see Port Vale's late collapse coming as substitute Jayden Stockley struck twice to earn Fleetwood a 2-2 draw.
First-half goals from Jensen Weir and Ethan Chislett put the Valiants in control and Moore within striking distance of a first victory since replacing Andy Crosby.
Instead, fellow strugglers Fleetwood were transformed in the second half.
But it was not until the 88th minute and second minute of stoppage time when super-sub Stockley grabbed his goals.
“It's a difficult one to take,” admitted Moore, who is now without a win in four games since taking charge. “We feel it is definitely two points dropped from the position we were in.
“But it stops the rot of those consecutive defeats.
“We, as Port Vale, have to get over the adversity that went against us. We took a backward step and weren't able to see out the last seven or eight minutes.
“The challenge we face is stopping the rot in getting this team performing and getting the feeling of adulation back.
“The players are giving everything to the cause. They are unfortunate that any little mistake is getting punished.
“At the moment it feels like Port Vale have to have almost the perfect game to get over the line.
“The concentration levels have got to be spot on. We didn't see that result coming in the latter parts.
“We just had to do our jobs, but it comes down to lapses of concentration and we get punished.”
Both sides remain in the bottom four but Fleetwood boss Charlie Adam left Vale Park the happier man.
“When I walked in the building two months ago I said to the players ‘I need you to represent what this town is all about: hard work, dedication and be proud to wear the jersey'.
“They gave me that in abundance in the second half. There only looked one team who was going to win the game.
“We dominated the second half and we had enough crosses and shots to win two or three games.
“I felt the subs would make a big impact, and they did.
“But that's why you have a squad and a togetherness and that's why I'm proud to be Fleetwood manager.
“They gave me everything and it's important we use that for our games during the rest of the season.”
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