The Eagles manager says he knows he needs to dip into the transfer market to add some more quality to his squad after they fell to a second straight defeat at Stoke on Saturday
Marouane Chamakh scored in his first start for the club to put Palace 1-0 up before they conceded second-half goals to Charlie Adam and Ryan Shawcross to make it two defeats from their opening two games of the season.
And Holloway, whose side gained promotion from the Championship last term, feels that his present squad needs more depth if it is to be up to the task of competing in the Premier League.
"Unfortunately I need to get some more people in to help by the end of this week, because I've only got another eight days now until the window slams shut in my face," Holloway told reporters.
"I should be locked in my room with my chairman trying to get some more signings in. It’s absolutely manic, completely and utterly crazy.
"It’s about getting some points in this division. If you look at their [Stoke's] bench and their squad and you look at how long that's taken to get together, how many years they've been at this level, I think it shows."
Holloway was, however, pleased with the performance of the players he has already brought in during the close-season, especially Chamakh.
"The fitness levels showed a little bit," he added. "[Joes] Campana's got to catch up to the speed of English football, and [Jason] Puncheon hasn't been picked the last couple of weeks, so they are tired.
"Chamakh's goal was very pleasing, I know he can score goals. I think he is a fantastic boy.
"He could have sat there, picked his money up and waited at Arsenal and blamed everyone else, but he wants to come and play for me. That’s the first time we've picked him and he's scored.
"Hopefully he'll get a new lease of life, but you know one [goal] in one isn't bad."
Holloway was not impressed with the Palace fans for baiting his opposite number Mark Hughes in his first competitive home match as Stoke manager.
"Our crowd [were] singing stupid ridiculous things which I hate," he said. "The fans are wonderful, last weekend they were absolutely wonderful, but no one should ever sing about a manager getting sacked in the morning.
"I don't find that particularly funny to be honest. I wouldn't sing that."