I was on the front porch having a cigarette with my fiance when I first observed the light in the Southern Sky at approximately a 45 degree angle on the horizon. It appeared to be approaching at a rapid speed. The object then appeared to stop and hover. My first impression of it was a very fast moving aircraft. The object hovered for several minutes in which time i began to record it in time for it to descend rapidly below the tree lines. The object then reappeared several moments later moving to the East before it made a very rapid ascent to a higher altitute, roughly 70-80 degrees to the horizon. It remained in a nearly stationary position in which it emitted a red/white light which appeared to either flicker or possibly strobe. It remained in this position for approximately 3 minutes or so before it began a near vertical descent. It's rate of descent increased as it got lower to the horizon. It also appeared to be closer as the object appeared larger as it neared the treeline before disappearing. My feelings at the time was of disbelief and of trying to identify the object. I have a Master's Degree in aeronautics and I was trying to figure out how to rationalize what i was seeing. The only possible explanation i can come up with is a drone with a light array on it, however, from my viewpoint and with the time/distance traveled, it appeared to be moving way too fast to be a drone. I am attaching the video I took and am hoping someone from a different vantage point will report it as well so that a triangulation can be made to determine if this was a drone or something else.