  The bright blazar Mkn 421 has been observed four times for uninterrupted
durations of ~ 9 - 13 hr during the performance verification and calibration
phases of the XMM-Newton mission. The source was strongly variable in all
epochs, with variability amplitudes that generally increased to higher energy
bands. Although the detailed relationship between soft (0.1 - 0.75 keV) and
hard (2 - 10 keV) band differed from one epoch to the next, in no case was
there any evidence for a measurable interband lag, with robust upper limits of
$| \tau | < 0.08 $ hr in the best-correlated light curves. This is in conflict
with previous claims of both hard and soft lags of ~1 hr in this and other
blazars. However, previous observations suffered a repeated 1.6 hr feature
induced by the low-Earth orbital period, a feature that is not present in the
uninterrupted XMM-Newton data. The new upper limit on $|\tau|$ leads to a lower
limit on the magnetic field strength and Doppler factor of $ B \delta^{1/3} \gs
4.7 $ G, mildly out of line with the predictions from a variety of homogeneous
synchrotron self-Compton emission models in the literature of $ B \delta^{1/3}
= 0.2 - 0.8 $ G. Time-dependent spectral fitting was performed on all epochs,
and no detectable spectral hysteresis was seen. We note however that the source
exhibited significantly different spectral evolutionary behavior from one epoch
to the next, with the strongest correlations in the first and last and an
actual divergance between soft and hard X-ray bands in the third. This
indicates that the range of spectral variability behavior in Mkn 421 is not
fully described in these short snippets; significantly longer uninterrupted
light curves are required, and can be obtained with XMM-Newton.
