A light went up into the sky, hoovered around for awhile, changed color, and moved around. The light was bright red and eventually faded.I was sitting on the balcony of the apartment. I was looking up into the sky and observed, at first, what I thought might be a flare or a rocket. But the object was travelling upwards. I got my video camera to tape the object. The object changed from a bright white to a very red color. I zoomed in and out to get some reference as to the relative location of the object. It travelled upward and then seemed to hoover. I taped it moving around in a small area bounded by some stars or planets. There was no noise or any other phenomena associted with the event. I was certain that the object was some type of UFO. The video tape is not as clear as what I witnessed, but the object and stars are visible. I tried to make a copy of the video, but the copy quality was not good. I still have the original video tape and would make it available for reproduction.