The problem of Virtual Machine (VM) placement in a compute cloud infrastructure is well-studied in the literature. However, the majority of the existing works ignore the dynamic nature of the incoming stream of VM deployment requests that continuously arrive to the cloud provider infrastructure. In this paper we provide a practical model of cloud placement management under a stream of requests and present a novel technique called Backward Speculative Placement (BSP)that projects the past demand behavior of a VM to a candidate target host. We exploit the BSP technique in two algorithms, first for handling the stream of deployment requests, second in a periodic optimization, to handle the dynamic aspects of the demands. We show the benefits of our BSPtechnique by comparing the results on a simulation period with a strategy of choosing an optimal placement at each time instant, produced by a generic MIP solver.