Fast moving bright red light with flashing white and green lights on top stopped, and hovered several times before rapidly leaving the

At approximately 9:30 PM, in Woburn, MA, on 7/16/17, while sitting in our yard having a cigarette, my wife and I observed a very bright red light, with white and green flashing lights on top, coming across the sky from the direction of Winchester, MA, at approximately the height one might expect from a helicopter, but at an extremely high rate of speed.  
I remarked to her "Wow, that's really moving", when it suddenly stopped and hovered for about 10 seconds, before proceeding to speed in the direction of Wilmington, MA, where it again stopped and hovered for a few seconds, before proceeding to return back in the direction I was standing.  
My wife had gone in the house and alerted my son, who also observed the object move, stop, and hover again, before proceeding rapidly in the direction of Stoneham, MA, and out of sight.  At no time was there any sound noted.  
The only thing it could have been was a drone, but the height and especially the extreme speed, makes that very unlikely in my opinion.