glowing orange cigar shape light, that streached like an elastic.

The two of us got off the basketball bus from a long away trip. It was about 2 AM.  The bus let us off at the top of a hill, and the veiw comanded all of the bay area.  The bus pulled away, and we started walking down the road and looked out over the bay to see hovering over the ocean, about 2 miles away, a cigar shaped, almost floresent orange colored light. It was a clear crisp night, no fog or clouds.  The object was low to the water, maybe just 1,500 ft. We stared in total amazement, after about two mins it's color seemed to brighten, and all at once it seemed to streach, like a pitcher that someone moved in, a blurr, if you will across the sky and over the visable horizon. Like an elastic?? it was in all places at the same time, that's the only way to explain how it moved. We vowed never to tell anyone, at 15 years old I didn't sleep well for many nights, and I have never told anyone untill now.
Date is approximate.  PD