Yeah, they'll pivot back and forth. I recommend just folding back (towards the side glass). They don't lock into place, but they are spring loaded.
Power antennas are best cared for by extending it fully and wiping it down with a paper towel soaked in transmission fluid.
Make SURE the antenna is retracted before washing the car, especially those of you that use automatic car washes. Not a bad idea to relube the antenna after a wash or after a long road trip.
For those of us that "hand wash only", if your car is driven in harsh winter environments, a good chassis flush is required every spring. Usually the automatic washes will tend to keep the chassis in good shape, assuming you always get the chassis flush feature with the wash job. It will be tough for the hand-washers to find someplace that will do a thourough(sp) spring chassis flush. Possibly a "premium" car wash business in your area can do this for you.