Sprites have a hotspot that you set in the picture editor (select it with the little red icon below the ellipse tool). For more information, have a look at the wiki: http://sourceforge.net/apps/mediawiki/c ... ure_Editor
The panel object does not support setting the hotspot in the picture editor. However, it has a property "Hotspot" that you can set to a few positions like top-left or bottom.
Most other objects don't support hotspots.