There's aren't options for the graphical pointer that I know of.
If you're using an Android tablet, you could hook up a USB mouse or Bluetooth mouse. (A mouse cursor will appear when you connect a mouse.) You can then use PS Touch as if it was on a desktop.
I'm a leftie too. You are referring to the Show Pointer option at the bottom of the Cut/Copy/Paste/Clear Menu (with the pencil icon) correct? When you're saying trailing rather than preceding it, are you saying you wish you could change the location of the cursor in relation to location of the button for your finger, or are you talking about lag with the tools not keeping up with your movements on the screen?
Using a mouse like Warunicorn describes is an interesting idea, I tried a USB mouse on my iPad2 but it didn't seem to work with my hardware. I got a "Cannot Use Device, the connected USB device is not supported." message when I tried.
Thanks for the answers,
For me the whole idea of using a tablet is so I don't have to carry around accessories like a mouse, that's why I was happy to see they had included a usefuly way to draw without having your finger obscure your work. It's just that the pointer seems to have been designed for right handed people without any thought for us lefties. Not a deal breaker, but I hope they include a fix to change the position of the cursor in the next update.
Well, to be honest, accessories like a Bluetooth keyboard, Bluetooth mouse, Bluetooth speaker, stylus, AC adapter/charger, a couple cables and my tablet all fit neatly into my Case Logic traveling case with room to spare. It's not much bigger than 14" across and looks like a small briefcase. I love it as I don't have to lug everything separately when I'm out and about and it doesn't exactly broadcast that I'm carrying a tablet.
Using a mouse is a tad more precise as well, especially when using elements like the transform tool. I use a mix of input methods; my stylus (for using elements like the brush tool), my fingers (for zooming) and my mouse.