It's always a matter of comparing yourself to the teams around you. Cardiff are the strongest of the teams going up and, so far, appear to have made the best signing. You never can tell, but I certainly wouldn't see you coming bottom. Or even below either of those teams. So that means, if I am right, teams fighting over the remaining place.
Villa might be in trouble if they lose Benteke - he really gave the goals to stay up last year.
Sunderland have bought in a lot of players - I suspect that they will either get in the top 10 or implode. But that might be biased by the idea of them being managed by Di Canio.
Stoke might be in trouble. I'm basing that on the fact they were in a nose dive and now they have Mark Hughes.
Fulham will be unpredictable with the change of ownership - he might do nothing, he might change too much... they were in trouble at the end of last year.
Norwich has strengthened, I think they'll go higher than before rather than lower. I'm afraid they will end up above you.
Cardiff won the Championship - have brought in a goal-scorer. In general, they'll probably want one or two more creators (maybe an experienced midfielder to dictate the play) and a defender. Hudson is their leader, so maybe a technically gifted big lad like we (Swans) had with Caulker to go alongside. The tough-tackling players will probably be able to get by on determination - where you might wobble is with players who could unlock defences at champ level but find it more difficult at Prem standard. At the same time the unit got you up and disrupting it too much will ruin your biggest asset. Strikes me MM recognises this and is being very careful who he introduces.
For a promoted team, 17th is a triumph and MM will recognise that. When you look at the other teams, between 14th and 17th seems like the most realistic placing. But you do need to build on that striker purchase and get more goalscorers/creative players in.
Anyhoo, best wishes for the season. (That is my honest opinion - always respected what Bellamy did for you, and the way he talked sensibly about the Swans, so I hope for him he does the job, keeps you up and takes over managing from MM a few years down the line).