Right rear wheel bounces a lot of bumps and feels scary
 

My right rear wheel bounces quite a bit continuously for a second after going over a bump then dicipates. Is this the sign of a bad shock ? The shocks aren't that old FYI. It also feels hairy going around corners with no weight in the bed.

Its either a bad shock or something wrong with the leaf spring. My bet is shock. If they aren't that old, check to make sure the top & bottom are bolted in still.

I'd say shock as well.

yep, replace your shocks and inspect the spring for binding and a cracked leaf.