Orange-reddish object not moving at fast rate of speed began to move at ENORMOUS one out of me and and I friends field of vision.Myself and a friend of mine were on the balcony of his 2 two story complex in Searcy, AR, in conversation when he pointed to the sky and said, look bro there is a ufo. I looked up and saw an object that looked to be on fire and an orange-reddish color hovering less than 200 feet in the air above us and moving south east at a steady clip no more than 30 miles an hour. I looked at the object about 4 to 5 seconds as it moved past my field of vision, and I was as yet determine what it is I had saw. We both ran out of his house and down the steps in which time it must have taken us about 8 seconds, by which time the craft or whatever it was I was seeing had begun to move at an ENORMOUS rate of speed. It was not headed straight up into the heavens but had a trajectory similar to something which had a clear destination which made me believe it could have possibly been a satellite, but my friend says it came up out of a grove of trees and then started hovering, ! which I did not see but I trust him because we both saw the same thing for several seconds. The rate of speed this object was traveling could be estimated by me a novice but somewhat educated man as 40,000 miles an hour. It was going state to state in a matter of seconds, until it went over the horizon and left my field of vision. If it was a satellite, it was the most sophisticated piece of technology I have yet seen. It’s speed could be compared to when you see a Christmas movie with Santa Claus barreling across the sky on his way to deliver toys. I being a skeptic eventually came to the conclusion that it was either a beautiful craft or a hologram in the air, and a hologram seemed unlikely. Along with it definitely be of a pyrotechnical nature, it seemed to have some sort of diamond or rather a geographical shape similar to an 8-pointed object, something that looked highly sophisticated.