Dezmo,
You are correct regarding gyroscopic precession. I did some research and I am wrong. If you take that child's bicycle wheel and hold it's axle
apparently the second you move it out of vertical it will want to move so that the axle is vertical.
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Originally Posted by http://www.boomerangs.com/gyroscope.html
Gyroscopic precession is the tendency of the spin axis of a rotating object to twist at right angles. This effects all spinning bodies including the planet Earth, which wobbles on its axis like a top (commonly called precession of the equinoxes). You can test this force by gripping the axel of a spinning wheel and trying to tilt it. The twisting motion that results is due to gyroscopic precession. It is the effect of gyroscopic precession that makes a moving two wheelled bike turn in the direction that the rider leans.
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Pete