It could be your ball joints causing the shimmy. Take it in to have it checked.
As far as the wheel turning with the waves in the road.... it's fairly normal. Wide tires will always track with the groove in the pavement.
If you think the tracking is excessive, it's best to have that sort of stuff checked out before you experience some sort of catastrophic failure.
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Eric - 89 Mustang LX coupe
5 speed 302-Cobra Intake-GT40p heads-TFS stage 1 cam-FRPP 1.6 roller rockers-3:73 gears-KYB shocks and struts-Eibach Pro-kit-HPM Mega-bite upper and lower control arms-FRPP aluminum driveshaft-16x8 Chrome Cobra Rs
R.H.C. #14
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