Noticed item above the horizon to the east. noticed several pulsating lights. at first thought it was a helicopter. but item stayed in the same spot for over 10 minutes. peaked our curiosity so got binoculars out and noticed better detail with the spinning lights. decided to get the telescope out for even better detail. at that point we observed 3 concentric circles of flashing lights spinning. it stayed in the same quadrant if the sky for over an hour. eventually it started to move slowly away. it seemed to be tracking across the sky with orion. went to bed then awoke at 2 am to see if still there. it was and still tracking with orion.