reddish orange light seen circling my town

Saw a orange light moving north over the street across from me. Moving too slow to be an airplane, and was way to bright to be a satellite. It moved north, the started a very tight turn to the west. After a couple seconds it changed color to white, then back to reddish orange. After another second it blinked twice and disappeared. After about 7-10 min, it reappeared coming from the south again and moving north much faster. As it neared the end of the street it slowed to a perfect stop and sat in the sky for a full min. It didn't make any noise, then it just started to go back the way it came, without having to turn around. After a few more seconds it again blinked out and was gone.