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Mind does the same thing I took it to the dealer and they checked it out and said it was normal. something about some kind of balancing system in the back of the truck and if ti wasn't there the whole box would bounce.
The dealer dealt you a pile of stink. Yes, there is a device on the drivers side rear corner, and yes, it is used as a harmonic balancer of sorts. I had to remove mine when I installed a Reese hitch, as it's bracketry interfered with the hitches side mounts to frame. It has been over 3500 miles since, and my truck does not bounce at all. No vibration, no bounce.
To the original poster of this thread, this sounds to me like either the tire is out of balance (dropped its weight), or one or more belts within the tire have seperated. The later being dangerous, as you could get a tread seperation at speed. Get it checked ASAP.