There should be two screws, make sure you loosen both. You might then be able to push it down further on the shaft. If not and you are able to remove it, you can try sanding the shaft with light sandpaper to smooth out any small bumps, etc. that it might be getting hung up on. Then see if the knob will sit lower down. I have done this before and it has worked well. You can also order a new pointer from the Alembic store online.