Would a airfoil move backwards if you rotate it vertical Lets say i have a wing with an engine attached to it like a propellor. 
And now i point the nose of my airplane up untill it is vertical.

Would the wing still generate lift because of the air flowing past it. Resulting in a backwards movement of the entire airplane? 

EDIT I am suggesting that the plane is hovering vertical not gaining or losing any altitude.

This may sound very vague, so here an image hopefully to make it clearer: 

 

So just to clarify, the brown thing should resemble a propellor.
the yellow line the horizontal normal orientation of a wing.
and the red arrow the resulted direction of the airfoil.
and the green lines the airflow. 

As you may have guessed i am not an expert when it comes to planes and the physics behind it all. So pls let me know if more information or clarification is needed.
A practical example of your question is when a model aerobatic aircraft with a conventional aerofoil profile (ie, not symmetrical) is fitted with a sufficiently powerful motor that it can be made to hover in the vertical position. This is quite a common trick. 

The answer is yes, there is a force in the direction of the red arrow.

The model might drift in that direction, although there are other aerodynamic forces, torque, centre of gravity &amp; thrust vector issues that will affect the balance, and these will change as power is increased and the model goes from hover mode to vertical flight mode.