Myself and two friends were going out to the porch to stargaze, as we do every night. I stayed behind to make a pot of coffee. After a minute or two my friend noticed a bright, white star-like object in the sky, she noticed it pulsating, as the white lights grew brighter and brighter, which is what caught her attention. It was hovering just to the west of us. High enough that the shape couldn't be exact. My friends yelled for me to come quickly. When I got outside the object was still hovering, but now had colored lights also. Still the white light being the brightest. We were all in awe and could not believe what we were watching. It was nothing we had ever seen before. The object appeared to be sphere-like in shape, through binoculars. I then noticed that it seemed to be moving ever so slowly, having to stand in the grass to see it, as it moved behind my neighbor's house. By now, we were all on our feet looking up, as it appeared again from behind my neighbor's house it was picking up speed. As it continued to climb higher & higher it suddenly took off at a very high rate of speed, leaving a white smoke trail behind it, which was visible with or without binoculars. We watched it move from east to west, moving in an upward direction, toward the moon. We noticed that as it moved east to west it made a slight turn in a south/west direction. We watched it until it was just a speck in the sky, disappearing out of sight. We still cannot believe what we saw and will always wonder what it was. We did manage to get a cellphone picture, but not very clearly. It just shows a white dot in the picture.