your wheel is just out of radial true. No big deal, it just means that in the spot there there is the "bump", the spoke tension is to low. Have you read Sheldron browns article about Truing? Or park tools. i suggest taking it to a shop and pay the 10 or 15 to have them do it but ask them to show you what it is so you can watch them do it and maybe pick helpful info up
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