My front tire pressure is 37lbs but the bike feels very unstable in corners, almost like the dampner isn't working. I wheelie a lot and my friend said that over time the collar nut becomes very loose and just simply needs to be tightened.

I may not be good with the names but he described the nut that is below the top of the tree that sits on the rubber gasket, slightly in front of the tank.

Help would be appreciated.


Scoop

The bearings in the stem have a tendency to wear premature due to wheelies. You can tighten the nut and it may help but it's very likely that your bearings are shot.

I am having my shop look at it tonite. I noticed last night that the dampner was a little loose and will tighten after work to see if it helps.

Thanks

loose? how is it loose? if its mounted to the shock infront of the stem, it shour have a lil play in it, its on a socket like your sholder so it can move a little.
37psi is WAY high, especialy for twisties. drop that to like 30 or even 28

What tires are you running...?
The Pirelli rep recommends 30 fr/ 29 rr for Super Corsas & Slicks...
I am not sure about Dunlop, Mich or Brickstone...