Ok chain slack:
You push down on the chain first. This establishes the lowest point and where you begin your measurement. Then you push up on the chain to the highest point and you measure that. So basically extend your tape measure, push down, set the end of the tape measure there, push up and note where on the tape measure it stops. Chain slack measured.

Jerky movement:
For a beginner, assuming no mechanical faults in the bike, it's both throttle control and being tight on the bars. I mentioned accidental inputs before. That's when your grip on the bars and position on the bike causes the bike to react to accidental movements on your part. New riders tend to hold the grips tightly and support their upper body weight with their arms. So with the tight grip and locked arms, the shocks on the front end travel directly up thru the front wheel, up the forks and thru the grips into your arms. And your arms fight back, trying to hold you up. That "fighting back" is making the bike do things you don't want.

So with a tight grip and poor body positioning, hitting a bump can cause you to accidently roll on / off the throttle. Just a tiny bit, but the bike is designed to respond to any throttle input. Jerky ride as your arms try to stabilize you and keep opening / shutting the throttle a little bit. It gets dangerous when the front starts to shake. The bike is self correcting. Head shake is the bike attempting to stabilize itself due to the gyroscopic effect. If you're fighting that self correction because your arms are locked, you're leaning on the bars or your grip is too tight the head shake will get worse. Possibly turning into a tank slapper

http://www.youtube.com/watch?v=LZ1srcQMa_0

Keep your elbows bent, your grip on the bars firm but light and support your upper body with your trunk (stomach muscles, thighs and knees on the tank). You'll prolly find the ride smoother.

 

Thanks Kuroshiro...I will check the chain tomorrow...JUst curious...what are the symptoms of too loose of a chain and too tight of a chain? Just for future reference.

Also, I wanted to play around with my clutch lever...are the two places to adjust things the grooved wheel washer thing on the cable and the other a small plastic lever on the clutch cover? How do I adjust these? Do I adjust both?

 

I can confirm this chain slack does affect the smoothness. When I've had my chain on my 91 CBR tensioned properly (only little slack) the shifting was smooth, now, after a nearly 1000 mile trip my chain stretched to the point I can't tension it any more by adjusting the rear wheel (so there's considerably more slack than there should be, I'm waiting for a new chain kit ) and it is jerking, like you said, in low rpms.