I have heard this statement various times in my life before, but never knew what was the precise geometric statement behind it.
Let us start with an example. Let $R = \mathbb{C}[x]$, which corresponds to the complex affine line. The ideal $(x)$ of $R$ corresponds to the origin on that line. The localization $R_{(x)}$ of $R$ at the prime ideal $(x)$ has only 2 prime ideals, namely $0$ and $(x/1)$. These are in 1-1 correspondence with the prime ideals $0$ and $(x)$ in $R$. $(x)$ corresponds to the origin, and $0$ corresponds to a generic point on the complex affine line.
Thus, by localizing at $(x)$, we only "picked up" the "point" $(x)$ itself, as well as the generic point on the complex affine line. I can see why this is in some sense like looking near $(x)$, but can someone make this more precise please? In general, can one say perhaps that if one localizes at a prime ideal $P$, then one picks up only the prime ideals $Q$ whose closure in the Zariski sense contains the "point" $P$? Can someone perhaps comment on that?