Things picked up after the break, but even then the lively visitors still carved open the reds backline with alarming ease, and it's hard to believe this game ended goalless.
Houllier sprang his usual selection surprise, bringing in Smicer and Cheyrou for Diouf and H*skey. Smicer's inclusion was expected, after his lively display after coming on against Charlton last Monday, but quite what Cheyrou has done to merit a recall ahead of Milan Baros is a mystery.
That he was selected to play just behind lone striker Michael Owen, in a home game which we needed to win, is an even bigger one. Or it would be, if we hadn't already had countless examples of Houllier's bizarre tactics and selection policy.
Just what must Baros be thinking? It's bad enough that he has to play second fiddle to our fraudulent number eight, but now he sees Bruno fucking Cheyrou given the nod over him.
The word is that Milan is not exactly Houllier's biggest fan, and if the manager does indeed stay on next year, don't be surprised if the popular Czech starts looking for pastures new, especially with Djibril Cisse coming in.
Until his arrival on the scene in the second half, the reds were toothless. The first half saw the visitors hit the bar through a deflected cross from Volz, and they went close again when the ever dangerous Boa Morte produced a rasping drive which Dudek made a meal of, the ball landing on the roof of the net when it could have gone anywhere.
The best chance of all though fell to the Londoners right at the end of the half, when Gerrard gave the ball away to the excellent Malbranque. The French star fed Boa Morte in the area, and just as everyone expected him to shoot, he produced a superb cut back to Collins John, who's initial shot was blocked by Dudek, and then Riise cleared the follow up effort off the line.
It was a huge let off for the reds, who'd been poor once again, although not as bad as they were against Charlton it has to be said. Van Der Saar had barely been tested in the opening period. A tame shot from Smicer after a good build up, and a shot from Owen which fizzed wide were the only moments of discomfort for the big Dutch keeper.
The second half was a different story though, as both sides created chances at will, only to squander them with awful finishing.
Houllier has embarrassed himself regularly this season complaining about refereeing decisions which haven't gone his way. Wonder what he'd have said had we scored from the penalty which was awarded for handball against Booby Petta? Not much I'd wager.
From where I was sat in the Main Stand it was a very harsh decision. The ball may have struck the players arm, but his arm was by his side and there was no attempt to deliberately handle the ball. Had a pen been given against us for that, Houllier would have gone nuts, and understandably so.
That's exactly what the Fulham players did. They were livid, and the protests lasted some time. The referee was unmoved however, and his assistant wanted no part in it.
There was no doubt as to who was going to take the kick, as it had been decided amongst the players after Michael's last miss from the spot that he would no longer be taking them.
With Murphy not on the pitch, the responsibility was given to the skipper. Van Der Saar stalled for time, wily old pro that he is, and there was some delay between the kick being awarded, and Gerrard stepping up to take it.
Whether that affected Stevie who knows, but the keeper guessed right and made a great save. Obviously there's no excuse for missing pens, but for what it's worth, I'd prefer a pen to be missed in this fashion rather than the tame way Michael's last couple have been stopped.
Having said that, at this rate we're running out of options as far as kickers are concerned. Carra would be my choice if Murphy isn't there. Riise would also be a decent option, although I expect Gerrard will take the next one.
The Fulham players were ecstatic, but Ian Pearce was extremely lucky not to find himself in big trouble for the way he gestured at the ref after the ball was cleared to safety.
The miss summed up Liverpool's season. But to the players credit, they didn't let their heads drop and they kept plugging away trying to find a breakthrough. The problem was, every time Fulham attacked, which they did often it has to be said, they looked likely to score themselves.
Boa Morte led Hyypia a merry dance all afternoon. He was just going round him as though he wasn't there. Not only is he quick, but he's got great control and lovely balance. Basically, he was far too good for Hyypia, who just couldn't get near him.
Fulham came here with an attacking intent which is all too rare in away sides these days. Most sides nowadays know that if they can just frustrate us there's every chance they'll nick something on the break and collect three points. Charlton being the prime example just five days earlier.
But Fulham didn't do that, they came here and had a right go. Malbranque was class, and it's ironic that for all the French players we've signed these last few years, none are in the class of this lad who we could have signed for £4m last summer. The comparison with Cheyrou was embarrassing.
Boa Morte too was a huge danger. He is an unpleasant character, but he can play and as I said, he ran rings around Sami. He should have scored in the second half when he went on a brilliant run right through the heart of the reds backline, but somehow put his shot across the face of goal when it seemed easier to score.
He also teed up a glorious chance for the tiring Petta, who's lack of freshness showed when he skied the ball over from about four yards. He was replaced soon after, looking shattered.
But Liverpool were creating just as many chances. The ineffective Cheyrou made way for Baros, who's directness and strong running immediately set up a chance for Owen, which was well blocked by Pearce.
Kewell blasted over from three yards, and was then denied by the post when he latched onto Carragher's miscued shot.
As the ball ricocheted clear, Fulham broke with lightning quickness, and from Boa Morte's cross Malbranque's goalbound scissor kick was superbly blocked by Carragher, who had somehow managed to get back after a rare sorty into the opposing penalty area.
It was end to end stuff, and it really was a thrilling second half. The introductions of Diouf and H*skey for the tiring Smicer and the dreadful Kewell further perked up the reds, as Houllier went for broke.
Kewell left the field to ironic cheers, and at the moment his popularity is nose-diving at an alarming rate. I actually felt sorry for him yesterday, as nothing he tried came off. It was painful to see. Houllier has a habit of turning good players into bad ones, and Harry is the latest victim.
Any sympathy I had for him though, quickly disappeared after the game when I heard about him throwing away the black armband after a few minutes. A couple of mates saw it, but I missed it. Apparently Diouf didn't have an armband on either, which is disappointing to say the least.
Without knowing the full facts though I don't want to be too critical of the players, but it's something I'm going to be asking around about.
H*skey hit the post after a surging run from Gerrard teed him up, but in truth the reds didn't do enough to win and defeat would have been very, very harsh on Fulham. A draw was a fair result, although it does the reds no favours in the battle for fourth place.
I'm giving Carra the star man because his defending was top class, and given the nightmare performance of Hyypia, it's a good job we had Carra back there. Henchoz did ok, and Stevie G was his usual energetic driving influence, even if a few of his passes went astray and almost cost us.
Walking back towards County Road after the game, a coachload of Fulham fans went past. I looked up, and they were all gloating and trying to wind me up over the fact we'd dropped another two points, and look like we've blown fourth place.
It made me laugh to be honest, as they had clearly mistaken me for someone who actually gives a shit. I was half tempted to join in with them.
In fact, I could take the piss out of us way better than they could. Champions League, we're 'avin a laugh, UEFA Cup, we're 'avin a laugh, Intertoto, we're 'avin a laugh....
As things stand now, Newcastle, Villa and Charlton can all go above us providing they win their games in hand. Should that happen, we wouldn't even be in the UEFA Cup, and that intertoto place might be needed.
City lead the fair play league, although if you take Diouf out of the equation we'd be streets ahead I expect. With games coming up away at United and Birmingham, and home games with Boro and the Goerdies, I'd say fourth spot is out of reach, and we may struggle to hold on for any European place.
I just want the season to finish, and for Houllier to be sent packing. This result should help to ensure that happens, but that's assuming that David Moores finally grows a spine. And that's a big assumption.
Team: Jerzy Dudek; Jamie Carragher, Stephane Henchoz, Sami Hyypia, John Arne Riise; Vladmir Smicer (El Hadji Diouf), Didi Hamann, Steven Gerrard, Harry Kewell (E*ile H*skey); Bruno Cheyrou (Milan Baros), Michael Owen:
