Just a minor (and probably obvious) cautionary note: the POINTER facility discussed in Dimandja's excellent source bears no relationship to the POINTER clause used by some COBOL verbs, such as INSPECT and UN/STRING.
Also, most discussions of POINTER cite its use in processing linked lists, but most of the "forum" buzz about it relates to its use in accessing system control blocks.
- USAGE POINTER and SET xxx TO ADDRESS OF
are extensions to the '85 ANSI/ISO Standard and are *not* particularly portable across implementations that have this extension
- POINTER in INSPECT and <UN>STRING are ANSI/ISO conforming and quite portable
- The 2002 ANSI/ISO Standard introduces "based data items", USAGE POINTER and SET ADDRESS features
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