That is totally incorrect. It is at a particular location when you make a position measurement of it, but before that, it is really spread out. That's the whole point of the principle of superposition that resulted in the Schrodinger Cat scenario! Things CAN be in many places at once! If it is only at one particular location at a particular time, you will not have bonding/antibonding states, etc. in molecules.I can't say too much about quantum field theory and quantum mechanics because I just recently got interested in the subject. But these electron clouds are not really "clouds," they are just the space which an electron may or may not occupy at any given time. The electron itself can only be in one place at one time.
This is a clear example where one cannot simply learn about physics in bits and pieces, because a lot of things are involved in many of these phenomena.