As I was driving home this evening, I noticed a bright light in the southern sky, over Hobbs, NM. The sky was very clear, and at first I thought it was a really bright star, because it was still. However, as I watched, I noticed that the object was pulsating with red and blue lights. Then, I thought maybe it was a plane or helicopter, but it stayed low on the horizon for more than 1 hour in the same spot. Now, I thought, would a helicopter really stay stationary in one spot for so long? I kept going back to look, because I really couldn't figure it out. I asked my husband to come out and look and see if he thought it was a plane or helicopter or star, but he thought it was weird, too. This object stayed in one place for nearly 2 hours, pulsating with red, blue, and at times, white light. It was very bright, very large, and low in the sky. Around 10 -10:30 PM, it started to move very, very slowly across the sky toward the southwest. I saw at least 4 airplanes fly near this object, which is also strange, because Hobbs is a small town, and I rarely see airplanes flying over, day or night.