It was 12:45 am, on 07/30/07 with a partly cloudy sky, some stars out and a full moon. The location is Malvern, Arkansas. I was at home and I decided to go outside to enjoy the warm night and the full moon and sky/stars. I was out for about 5 minutes when to my left in the sky, with about a 30 to 40 degree line of sight up, I noticed a very rapidly blinking light, the reason I noticed it was because it was blinking like crazy, it was just a little bit bigger than a star and blinking like wild, it was traveling across the sky to the left and was not staying in any kind of straight line, it made several erratic moves and then did one very wild move, it moved in then out and up and around and then back down and around the same way, it was almost like it followed the pattern of a horseshoe, after that it went behind a cloud and there it stayed, I watched for it to come out the other side or back up the same way but it never did, it stayed behind the cloud. I was pretty excited by then and was watching the sky for it, then another light to the right of where the one went behind the clouds....and I don't mean right next to it, it was across the sky a good distance and moving to the left in the same direction as the other one did, about the same height in the sky as the other one, it too was blinking rapidly, it was also flying erratic, no horseshoe moves but nothing like a plane or helicopter would fly, it traveled across the sky and I watched it, I could make out a few other colors of lights in this one but mainly it looked like a very bright white light, blinking like crazy....almost ID to the other one, this one went behind the same cloud and disappeared also. I was pretty excited by then, I've never seen anything like this in my life before. Sure, I've seen a few odd and end things in the sky before, but nothing can I say I've ever seen that looked like this did, or acted like this did. I stayed out a little while longer and watched the sky but never saw anything else, I never saw these two light's emerge from behind the cloud either. I came back in and wrote down what I saw so I wouldn't get things mixed up or forget or remember something I didn't see. My first impression of it was that it was a UFO, it wasn't a plane I knew because I've seen planes before in the night sky. I thought long and hard about it, there's no way this was a plane of any kind, plus I've seen planes in the night sky before, this wasn't a plane and it wasn't a helicopter. There was no sound emitted from the objects/lights. It wasn't a star, it wasn't a satellite, and it wasn't a weather balloon, flare or anything like that...it moved too erratic to be anything I know of, plus I thought it was interesting that I saw the one, then I saw the second one and they both went behind the same cloud. I didn't get any pictures because I didn't have a camera with me, and I was really amazed at the whole event and didn't think of going to get my camera, plus it happened so fast I wouldn't of been able to go back and get the camera from the house and come back in time to capture anything.