Cloud, hovering then moving at right angles with pulsating light coming from within

The event took place at Keesler Air Force Base over the Triangle area of the Base.  It happened at a time when all of the school squadrons were in formation and marching to their classes.  A small cloud enity seperated itself from the clouded overcast ceiling and decended very slowly.  It made no noise. From within the cloud we could see a pulsating light the intensity of a flouresent light bulb.  It would pluse on then off approx at 2 sec intervals.  The clould then droped closer to the ground then stoped. Approx height (200 ft) then the cloud moved slowly in a level path to our left, at a right angle (NNW) then slowly returned to its original position.  It then rose approx halfway up to the cloud ceiling, then back down.  On its return up again if stoped at the halfway point for a minute, then suddenly disappeared.  All The Airmen saw it.  The Height finder from the Radar School appeared to be focused on it.  We were informed later that day, that what we saw was a weather rocket out of Alabama that had gone astray.  No more was said, not did I see any publication about this sighting.
Witness corrected date after submitting report.  The incident occurred in 1965, he reports to us.  The date has been amended from the original report.