The Welsh team inflicted a 4-0 defeat upon the Uruguayan in his first game on charge of the North East outfit on Saturday, but the Dane said that there is still a long way to go.
"There are still 30 games to go, if you suddenly get two wins and six points you are right there," Sky Sports News quotes the 49-year-old as saying.
"I know in this moment right now it seems very difficult for them, but sometimes you just need a little bit of luck in one game and you can win it 1-0 and you are back again.
"You see it with a lot of teams in different competitions. I always say that things are decided during the last two months of the season. I have never seen a team win the title or get relegated in October, November or December."
Sunderland face Newcastle United at the Stadium of Light next Sunday.