Pointers are always linked to a specific element. Once pointer is loaded on page, it positions itself next to the element and points to it.
In case the element cannot be found on page when the pointer is loaded, the pointer is shown as Slideout instead.
Common issues causing this effect are animations (pointer expects the element before animation is complete) or slow loading (pointer is already loaded, but the element is not loaded yet). To resolve such issues, you can set up Trigger "Element appears" on the tour step to ensure pointer waits for the element to appear. More can be found here.