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I went to observe july 4th fireworks in cairo n.Y. facing west,i noticed a blinking white light (for approximately 10 min. ). i assumed it was a helicopter watching fireworks from above. with no point of reference except mountains below,it appeared to be about a mile or so above the earth. then suddenly it moved about 20 degrees north in less than 1 second, if i had to guess, it was approximately 1-2 miles (witch really got my interest). it continued to blink a white light for about 5 minutes. then for approx. 1 minute, the white lights stopped, and two red lights appeared close together, and they did not blink. then white lights re-appeared and were blinking again for another 5 minutes. as the fireworks went into the grand finale, it stayed till it was over. it then took off north in a extremly quick streak, ( a microsecond )and disappeared. after observing what i saw, i asked an older gentlemen who was sitting nearby if he saw the lights as well, and he told me he noticed them also. it is my opinion that there is nothing that i know of that can move that fast, and can take off that quickly. and stop that fast. i believe we were being observed by this craft, and that it was possibly an alien entity. or possibly a military/experimental aircraft observing us. this experience was very similar to a sighting that i, and about 1 dozen people observed in 1978, that was only about 10 miles south of this location.