Robie,
My K2 had the same problem that you described after a long period of not being 
used.  After severaldays of being left powered on  and daily use, the problem 
went away.
My theory is that bypass capacitors in the K2 may have "reformed" and 
eliminatednoise in some circuit that was affecting the S meter bar graph.
As Don says, it could also  be a noisy RF gain pot.

Even though the K2 is a dated design it is still a great rig. I would never 
part with mine.
Bill - K6WLM
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