While Pointing Operator is active, you can edit one single element at a time. Elements can be vertices, handles, edges or (curved) polygons. Each element must be activated before you access its controls.
Activation is usually performed by clicking on the element, but sometimes you have to Ctrl+Click. There are three modes:
So, basically, you choose which ones among vertices, edges and polygons must have their activation handle shown, which only need a single click, and you can Ctrl+Click anywhere on the screen to select something else. This was done to give you some flexibility with activation, while avoiding undesidered misclicking (that could happen if everything was selectable with a single click). In any case, you need to activate first a vertex or an edge to activate any of their handles.
The content of the Dynamic Menus section will change according to the type of the last element you have activated.