A bright dot high over the U.S. Pacific coast exhibiting rapid acceleration/deceleration and the ability to hover.

In the summer of 1960, when I was 8 years old, my father, mother and myself were driving north along the coast of California (dad driving, mom in passenger seat, me in back seat). 
Mom said, "What is that?" Dad pulled over and we all got out. I saw a bright dot high over the ocean which alternated between sitting still and darting to a new location (I remember witnessing about three very rapid position changes, then very rapid acceleration upward out of sight). 
When we got back in the car, I asked, "Daddy, what was that?" My father (who was a serving military officer) replied, "We will never speak of this again," and we didn't.
Source of report indicates that date of the event is approximate.  PD