THE PLT OF AN ATX SMA ACFT CLBED ABOVE HIS ASSIGNED ALT WHILE HE WAS DISTR RESETTING HIS DIRECTIONAL GYRO ON CLBOUT.

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AFTER DEP FROM DAL I WAS TO MAKE A HARD L TURN TO A HDG OF 190 DEGS AND CLB TO 2000 FT EXPECT 4000 FT IN 10 MINS. UPON DEP I MADE MY L TURN OUT OF DAL AND MY DIRECTIONAL GYRO PRECESSED AROUND 15-20 DEGS. AT ABOUT THIS TIME DAL TWR REQUESTED THAT I EXPEDITE THROUGH 1500 FT FOR VFR TFC; I DID AND WAS IMC AT AROUND 1600 FT. SHORTLY AFTER THIS DAL TWR RPTED THAT TFC WAS NO FACTOR AND TO RPT TO DEP ON 125.2. WHILE RESETTING THE DIRECTIONAL GYRO I MADE MY FIRST CALL TO DEP AND WAS UNANSWERED. UPON MAKING MY SECOND CALL I WAS ANSWERED; BUT I HAD PASSED THROUGH 2000 FT AND RPTED THAT I WAS OUT OF 2200 FT. I REALIZED WHAT I HAD DONE AND STARTED FOR 2000 FT. DEP IMMEDIATELY SAID I WAS TO BE AT 2000 FT AND THAT THERE WAS TFC AT 3000 FT. I RPTED GOING TO 2000 FT. DEP ASKED WHAT I HAD BEEN GIVEN FOR MY CLRNC AND I TOLD THEM 2000 FT EXPECT 4000 FT IN 10 MINS. AT THIS TIME DEP AGAIN SAID THAT THERE WAS TFC AT 3000 FT. I SAID I WAS SORRY AND THAT I WAS AT 2000 FT. AT NO TIME WAS ANY ACFT TO MY KNOWLEDGE GIVEN INSTRUCTIONS FOR EVASIVE MANEUVERING.