Orange light in distance made intstant 90 degree turn upwards and zoomed away at impossible speeds.

Back in the late 1980s, my father and I went up a hill on a road not far from our house to observe Mars through my telescope. I was in my early teens. I remember that it was suppose to be the closest Mars was to Earth in some time and after doing some research, I learned that it was the perhelion of Mars on 28SEP88. I do not remember if that was the exact date we went out, but it would have been close to that time within a day or two. The news channel in Madison had announced it and that is why I knew about it, so I am guessing it was the actual date.
 We went out around between 1900-2200, I don't remember, but it was night and a chilly fall night. We set up the telescope facing the western sky and I do remember Mars was about half way up the night sky. We took turns looking. While my dad was looking through the scope, I turned around facing east and saw a small circular orange light traveling from north to south. It was way off in the distance and I remember thinking it was moving faster than a normal airplane, but not impossible. I was very curious and thinking it had to be an airplane of some sort. I waited to see the blinking lights. Instead, after a short while, the object made what seemed like a perfect 90 degree turn upward and zoomed out of sight in an instant leaving a streaking effect that lasted just as short of time.
Witness indicates that the date of the incident is approximate.  PD