Back to Nisemonogatari, this episode starts after Araragi and Kanbaru finish cleaning Kanbaru’s room, after some fun and games Araragi meets a strange man called Kaiki.
the guy is very weird and speaks even weirder words, and after some chit chatting he just leaves.
in his way back Araragi speaks to his girlfriend ( Senjougahara ) and she in all her jealousy starts asking questions to about how many girls he’s seen today.
after some talking Senjougahara Araragi mentions Kaiki and then she suddenly snaps, after a cut we get the same scene from the beginning of the anime ( see I told you things will be explained ).
aparently Senjougahara wants to protect Araragi from Kaiki by kidnapping him, she starts explaining what Kaiki is and why she hates him, I will not go into details for the sake of spoilers.
after one unexpected call from her sister everything changes, Araragi breaks his chains ( apparently he is able to break them easily but he just liked to play prisoner ).
and that’s its for episode 3.
in episode 4
We see Araragi in his house talking to both his sisters, mysteriously Hanekawa is there too ( I love the new haircut!) and they’re discussing about some issues that the fire sisters are facing.
After some talking with Hanekawa he figures that his sisters were looking for some evil curse going on in their school but apart from uncovering that something is wrong not much progress happens.
Araragi decides to take a bath and while thinking in the tub Shinobu appears from his shadow.
Some talking with shinobu after ( more like 3/4 of the episode of fan service with a lot of plot thrown in there ) he discovers the real problem affecting his sister, some bee related problem that includes some insufferable fever and eventually death.
the episode ends again on a cliffhanger. and now we wait for the next episode.
the series is turning to be a great one, though the weekly waits are making it very hard to follow the story without rewatching the previous episodes before the new one, still it would make a great series to own in DVD or Blu-ray.
stay tuned for another series on the Winter 2012 watch list “Listen to me I’m your father!”
Watch Nisemonogatari for free in Crunchyroll.com

Overall, I think these two episodes have been really interesting. We not only finally get a glimpse of what kind of troubles are in stored for the Araragi sisters, but we also see personality changes in quite a few characters.
Honestly, I might have to re-watch Bakemonogatari to recall some of things that happened before to fully understand the relationship Araragi Koyomi shared with the girls of Nisemonogatari.