To get rid of the bump from the ponytail holder, I normally take the pony tail down when my hair is about 90 percent dry. Then I bobby pin it flat to my head. Or, I twist or wrap it depending on the mood I am in. As for the frizzies, I work evoo or wgo through the hair several times as it is drying, or I twist the ponytail. You can also roll the ends of the pony tail. Regardless, once you remove the ponytail you need to put on a silk scarf to let it dry the rest of the way.
When I have a lot of new growth, I tend to do more than one ponytail because the new growth makes my already thick hair that much more so. So, Ihave no choice but to divide and conquer. Extra Virgin Olive oil on wet hair is amazing for combatting the frizzies as it dries, so is wgo. I tend to dilute my wgo with Evoo because the smell is so strong or I just use a lot of Evoo or Jojoba which works better than wgo alone on my hair.
hth