SLOW MOVING OBJECTS IN THE NIGHT SKY, NEW YEARS 2011While enjoying the Fire Works at my home with my wife around midnight New Years, coming from the north I noticed what seemed to be a flare in the sky. At first I thought that a flare got caught in some kind of wind current and was moving in a southbound direction.However, I found that the flare was not extinguishing and seemed to be winking periodically. Then, all of a sudden a next one appeared slightly more north easterly and vectored to intersect the first one, which just disappeared. At this time I am wondering if this is some kind of balloon with a flare attached. The fireworks somewhat stopped but this thing began to change direction and even slow, and then rapidly turn east, then slow again.It was only when the object paused (10 sec)right in front of my house (about 200ft up)I suddenly realized that this was not a flare because its form became visible and I was looking at what could only be described as a glowing red ball but the light was moving through out the body of the ball.My wife and I observed this thing until it flew out of sight changing direction often. AT SLOW SPEED!