Comment on how to get more arduino analog inputs by Constantine

Hi,
I was wondering if this setup means that it would not be possible for arduino to read the input of 2 analog pins on the multiplexer at the same time.
For example, if I connect 2 potentiometers to 2 pins of the multiplexer and turn them at the same time,would arduino successfully read both or that is not possible?
Thanks in advance,
Constantine.