It's an accident of C syntax that you can write it either way; however, it is always parsed as
Type (*pointer);
that is, the * is always bound to the declarator, not the type specifier. If you wrote
Type* pointer1, pointer2;
it would be parsed as
Type (*pointer1), pointer2;
so only pointer1 would be declared as a pointer type.
C follows a "declaration mimics use" paradigm; the structure of a declaration should mimic the equivalent expression used in the code as much as possible. For example, if you have an array of pointers to int named arr, and you want to retrieve the integer value pointed to by the i'th element in the array, you would subscript the array and dereference the result, which is written as *arr[i] (parsed as *(arr[i])). The type of the expression *arr[i] is int, so the declaration for arr is written as
int *arr[N];
Which way is right? Depends on who you ask. Old C farts like me favor T *p because it reflects what's actually happening in the grammar. Many C++ programmers favor T* p because it emphasizes the type of p, which feels more natural in many circumstances (having written my own container types, I can see the point, although it still feels wrong to me).
If you want to declare multiple pointers, you can either declare them all explicitly, such as:
T *p1, *p2, *p3;
or you can create a typedef:
typedef T *tptr;
tptr p1, p2, p3;
although I personally don't recommend it; hiding the pointer-ness of something behind a typedef can bite you if you aren't careful.