Seen Oval in the sky hovering over the mountain. Then started to move from east to south. On the sides it had blue,white and red blinking lights. Then it blinked out.I came home with a friend from a basketball game. We were talking and notices something in the sky So we got our binoculars out and watched the object. It made no sounds, it just hovered their. It had red,white, and blue blinking lights. The lights moved around the outer edge of the object. We observed it for about five minutes moving north, then east. It quickly changed it directions. Into about two minutes of watching it, it blinked out. But we could still make out an object, "just barely". Then it re-appeared and continued moving around the mountain again. Then it blinked out for the last time.