About 10:05 pm on oct. 1, i was out on our deck that overlooks the mountains between lake junaluska and maggie valley. we occasionally see a planes overhead, both commercial and private, but a slowly moving blinking light caught my eye somewhere over the mountains. no way to determine its distance or elevation, other than it was about 20-30 degrees up from our house "horizon" level at 3,750'. i watched it move the the nw, occasionally slow to a hover, then slowly begin moving again. it would then reverse its direction and move approximately the same distance and repeat the whole thing. this went on for over an hour. a second light, much fainter and smaller seemed to be descending to the first light at one point, but seemed to disappear as it neared the first light. i asked my wife to take come out and a look and she confirmed the sporadically blinking lights were white and red, and at one point a red cone shaped light emitted from the top for only a few seconds. i think there was a white light emitting downward sporadically and i believe it was illuminating the tops of trees, but because of the distance i'm not 100% sure. sometimes the lights were more intense and the blinking got more frequent; i got the impression it was moving closer, but no way to tell. curious to know if anyone else was watching this i called the county sheriff's office to see if anyone else had reported the lights and had was told i was the first. the military does in fact run training exercises in the area, and the officer thought it may be a helicopter, but i've seen helicopters maneuver in the area and this did not behave as they do. the officer transferred my call to the state patrol because he stated that this would fall in their area of jurisdiction. i spoke with a duty officer and he was not aware of any exercises in the area. no sighting reports had been called in to them either. after an hour or more, the light slowly continued to move se and out of my line of sight. i tried to video the lights but with it being at night and being so far away i'm afraid what i got isn't much help or use. cannot attach due to the file size exceeding my transfer limit.