The Saddlers continued their flying start to the season by securing a 2-1 win at Oxford on Saturday.
But while Keates is happy with the squad at his disposal, he confirmed there is one player he would still like to bring in.
“We have the opportunity to bring someone in and I am trying,” the boss said. “Will we get it done? I don’t know.
“He has had the opportunity to have a look at something in the division above us. It’s just a waiting game at the minute.”
As is always the case on a Monday, Walsall’s squad will sit down today to analyse their performance over the weekend. And Keates confirmed they will be looking at why they have a tendency to concede late goals.
Despite their impressive start to the campaign, the Saddlers have conceded late against Gillingham, AFC Wimbledon, Macclesfield, Burton and Doncaster.
And that trend continued on Saturday with James Henry netting in the 87th minute to give the U’s hope they could complete and unlikely comeback.
“I spoke to the players about it again after the game and we will be going into it again massively in the debrief,” Keates continued.
“If someone is putting it in the top corner from 30 yards, you can’t do too much about it.
“It’s all about where you have your last point of contact with the ball. Are the goals coming from our mistakes?
“I believe Oxford’s goal was our mistake.
“It’s decision-making at the end of the day and we have to make the right decisions. It cost us the clean sheet we wanted.”
Keates opted to partner Josh Gordon up front with Morgan Ferrier on Saturday with Andy Cook forced to make so with a place on the bench,
Gordon repaid his manager’s faith by setting up both goals. And Keates admitted he was pleased with the former Leicester man.
“It was a difficult decision but you look at the Oxford and they are a possession team,” the boss added.
“I just felt the way Josh is – with his work rate and the way he plays on the front foot – he would offer us something a little bit different.
“Andy will be disappointed but he’ll get his opportunity again soon enough.”