The most common and most likely answer to this crossword clue is the 11 letter word MARLINSPIKE
I've seen this crossword clue in The Times
M
A
R
L
I
N
S
P
I
K
E
More clues leading to the result MARLINSPIKE
Buddy explains!

The straight part
We know that "pointed tool" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case pointed tool = marlinspike.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MARLINSPIKE mean?
MARLINSPIKE noun- A tool, consisting of a pointed metal spike, used to manipulate the strands of rope or cable when knotting and splicing.