We were camping out at enchanted rock in central Texas. We were on top of the rock with a telescope looking at the stars. We noticed a craft streaking toward the ground. It was about a mile away and stopped and hovered about 50 to 75 feet above the ground. Its lights were flashing and the craft was turning and we were able to look at it through the telescope for a brief time. It stayed visible for several minutes then it Streeked off in the same direction it had come from. Several minutes later it returned to the same location it had been hovering at. Then it streaked off and disappeared. It was amazing how fast it moved. We believe there was a report in the news paper in Fredericksburg several days later That a person had discovered in their travel home that they had lost a period of time and thought possibly they had been abducted. I'm not sure of the exact date the incident took place but it was in the summer of 1975. There were five or six of us in our group camping out that night. We still talk about it sometimes and are still amazed at what we saw. I got a real good look at the craft through the telescope but it was moving left and right, turning and flashing its flights. It was definitely something not of this world. We were all stunned and could not believe what we had just witnessed but having the telescope gave us a really good look at it. It was definitely a saucer shaped object. We could see it's body along with the lights because of the telescope. It appeared to be 12 to 15 feet in diameter and possibly 8 to 10 feet tall. It appeared to have at least three different colored lights and although it was moving left to right it was also spinning.