You may try alternating between blitting a texture of a circle and clearing the screen, depending on a check whether the time elapsed is over 0.033 ms.
The time elapsed should be in a fixed timestep, which is tied to the vsync. 0.033ms should be around 30 frames per second.
The trick here is timing. By folding, do you mean screen tearing?
Do you need to render the circle for a duration of 0.033ms and then hide it for the same amount of time, and then start again?
If you are rendering with GDI, going to DirectX will definitely help you.
Hope it helps at anything. I'm a bit sleepy, please excuse me if I'm a bit off the rail from your intended meaning.