Panel 1: It's night-time at the Pattermanse which means that John and Elly are in bed; as she reads a magazine, she tells John that Connie is excited about Phil's arrival over the holidays but she hasn't said a thing about her.
Panel 2: John turns and says that maybe he's just thinking about other things; Elly asks him "What other things?"
Panel 3: John doesn't know what exactly Phil is thinking about but he does know that men think about a lot of things; he will concede, however, that Elly is right to assume that other women are one of those things.
Panel 4: It's not just 'other women' he just said Yeah to; Phil could also be thinking about work, finances, sports and anything else he's got going on in his life.
Panel 5: We next see John after Elly smacks him over the head with a pillow; when he asks her what he said, she said "You said 'Yeah!'"
Summary: It's fairly easy to see what is bothering Elly; she'd rather assume that Phil is playing Connie than have to admit that relationships with anyone are the last thing on his mind. If her pal is a desperate no-life, she wants there to be an Evil Man trying to exploit her instead of a sitting duck who's the object of misguided affection.