I was in my home in Ripley Co. and overheard on my police scanner (at approx. 9:30 or 9:35 pm) of a call reference to person reporting a blue flash in the western sky. I immediately grabbed my binoculars and went outside on my deck and saw this bright white star-like object to the west at maybe 10,000-20,000 ft. approximately. I watched it through binoculars(8X30mm) as it seemed stationary for about 5 minutes and still very bright, even with the full moon. I realized it was moving because when first viewed it was above my neighbor's house right next door then decended below it out of sight so I went towards the back of my home to regain sight of it. As it moved towards the west slowly (horizontally) it would dim somewhat to a pinkish hue. The futher away it moved it became smaller, dimmer and eventually decended below a treeline approximately 10-15 miles away. Also, this object did not display any aviation lights. Duration of this event was about 10-15 min. The odd thing about this (besides the object itself) was while I was out side I heard several cats whining and dogs barking in the distance like something was bothering them. After some hesitation, I called our Sheriff's Dept. at around 10:27pm to try to confirm this and they indicated a report of a blue flash in a town about 15 miles north of my location.