A friend was taking me home at around 10:45PM when he said "Do you see those two lights over there?" He pointed towards the west, or our right, as we were heading south at the time. I immediately saw the two lights and the light that was further south I could tell was an airplane as I could see it's blinking lights and could tell it was moving like many planes that fly over our town. But the other light I knew was not normal. It was much brighter and had a bluish white intensity to it. We had stopped and was watching it and honestly at first I was not sure what we were looking at. It did not move at all and I was beginning to think we were just seeing a bright star. My friend turned the corner by now heading west and we got to a clear area so we could watch this light better. It continued to just sit in the same place but after about five minutes it made a very strange movement and moved in a short quick "S" pattern. I said out loud, " Did you just see it move?" not sure that I had actually just seen that and my friend said that he did. Then it started moving up and down and at one point looked like it was making a circle. It then moved towards the south for a short distance and then moved back to the north and stopped and just hovered again. During this time it had changed it's light intensity and actually dimmed to a reddish colour and would get bright again. It was doing this regularly now and then stared moving off towards the northwest. It did not speed off it just headed off in no big hurry and we sat there and watched it as long as we could, to the point of where we could only really see it when it got bright before it turned red and then it just got too far and was out of our ability to see it anymore.