Bright light seen above horizon moving up and down erratically towards the northeast.While staying at a lodge on a mountain in Greenville, ME (I will not name the lodge, but will say that is has a clear view to the North and of Moosehead Lake) my father and I had returned from a night of moose watching around 12:30pm. The sky was pitch black and many stars could be seen, including many high flying airplanes heading for Europe in the same path continuously. However, towards the Northeast I saw a bright light, about as bright as a light from a lighthouse if it were a mile away, about 10 degrees above the horizon. Now, there is a small airport with a light in that direction as well, but it was clearly distinguishable that this was not the airport light. The light, which glimmered, traveled further to the East in a direction away from us. I mentioned it to my father, who saw it for himself and admitted that he did not think it was an airplane. The craft would move up and down about 5 degrees while moving towards the East. The craft did this about five times while we watched it. The color was an orange that changed slightly to a blue and red as it moved across the sky. The object disappeared when it dove towards the horizon quickly and faded as it dropped.