Speaking after another goal from makeshift frontman Greg Halford had been cancelled out by Stephen Kelly for the hosts, Davies said: "The game should have been over, well and truly done.
"We were just not clinical up front and we should have had a second goal, a third and a fourth. We've got to kill teams off."
The Scot can reflect, however, on festive haul of seven points from nine games against a trio of sides all set to be in the shake-up at the end of the season.
For Reading, manager Nigel Adkins felt it was vital his side stopped a run of defeats and he said afterwards: "People can maybe now look at the positives and not the negatives. We've taken four points off a team who we expect to be at the top and challenging with us for promotion."