Point of light traveling at high altitude with intervals of "flaring".Under a clear, cloudless sky I observed a point of orange-ish light traveling south to north almost directly overhead Portland, Oregon. My eyes would not otherwise have been distracted to peer skyward had it not been for a "flaring" effect I noticed from this object moving from the south. I compare this object to a star of magnitude +2 and when it didn't flare it appeared identical to a star.The best approximation I can describe this "flaring" is to equate it with the firing of air in a hot air balloon at high altitude. The flaring had colors of red/orange/white and would last about ten seconds, then cease and the point of light would reappear. The flaring occurred in intervals of about two to three minutes and I observed about five of these events. The object continued to move south to north at a steady rate but abruptly began traveling northeast as it passed over the Vancouver, WA area. I continued observing this object for 20 minutes and the flaring continued to occur at regular intervals throughout the period of my observation.