First, a confession. I though I'd be a nice guy and teach my friend how to ride. Big mistake!!!  

He ran into a curb and along with some minor cosmetic damage, bent my front rim. The bike shook like heck at 30mph and faster. I got it home and put it up on blocks and sure enough, there was a significant wobble in the wheel. Needless to say, it ruined the rest of my weekend.  
So I began to hunt for a replacement wheel, after missing out on a couple on ebay I was concidering some offers on this site.

Now for the fix. I saw this on American Choppers (now kids, don't try this at home   )

1. I set the bike up so the wheel spun freely.

2. As I spun the wheel, I marked the area where the wheel was bent. In my case, the wheel bowed out to the right for less then one quarter revolution.

3. Because the wheel bent to the right, I loosened the spokes on the right side of the bent area and tighten the spokes on the the left side. This in effect pulled the bend back inplace.

After some trial and error, I manage to get the wobble to a minimum and I took the bike for a spin.

It was fixed!! No more shaking!!!  

Thanks Orange County Choppers.

Thanks for letting me brag guys.  I hope this helps some other do it yourselfer.
My best advice however, don't teach you buddy how to ride on a bike that you plan on riding in the future. Get a junk dirtbike insted.

Wheel trueing 101. You passed  

Congratulations.