Some questions to better understand what you want to do.
- is the 'printed full circle' drawn on the form ?
- or is it an image on the background ?
- is the ball a simple circle or a bitmap ?
- do you want the ball turn around it's own center ?
A simple way would be to draw the ball on the forelayer of the form, either directly or with the ImageLibEx library.
If you need to turn a bitmap you must use the ImageLibEx library.
But the Sprite library would probably be the right library for your project.
Unfortunately I have never used it.
There exists an example for the Sprite library:
Basic4ppc - Windows Mobile programming and Pocket PC Development
Best regards.