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In this work we consider some aspects of relativistic dynamics of a cylindrical shell of counter rotating particles. In some sense these are the simplest systems with a physically acceptable matter content that display in a well defined sense an interaction with the radiative modes of the gravitational field. These systems have been analyzed previously, but in most cases resorting to approximations, or considering their behavior over very short periods of time. Here we show that there exist a family of solutions where the space time inside the shell is flat and the equation of motion of the shell decouples completely from the gravitational modes. The motion of the shell is governed by an equation of the same form as that of a particle in a time independent one dimensional potential. We find that under appropriate initial conditions one can have collapsing, periodic bounded, and unbounded motions. We analyze and solve also the linearized equations that describe the dynamics of the system near a stable static solutions, keeping a regular interior. The surprising result here is that the motion of the shell is completely determined by the configuration of the radiative modes of the gravitational field. In particular, there are oscillating solutions for any chosen period, in contrast with the "approximately Newtonian plus small radiative corrections motion" expectation. We comment on the physical meaning of these results and provide some explicit examples. We also discuss the relation of our results to the initial value problem for the linearized dynamics of the shell.