friend and I were walking between the edge of Richardson bay and highway 101. Must have been between 9 PM and Midnight. it was foggy, ie, marine layer pouring over the hill separating our area from the pacific.

We looked up and saw stationary lights, I'd guess no more than 1000 feet up, probably 500. No sound other than the traffic on 101. It was at least 300 feet long, as it was dark no shape could be determined. Lights on the object were flicking on and off in random. At one point we saw a flume of thick white vapor (steam? smoke?) pumping out directly adjacent to one of its lights. As the vapor was not being batted away by turbulence we knew it couldn't be a Chinook Helicopter, and it was certainly twice a Chinook's length. Eventually it moved west out of vision. We were surprised this hadn't been seen by the volume of traffic on 101.
Next day in the San Francisco Chronicle (daily paper) it was reported that many had called in about 'something' and the official response was test firing of a Minuteman missile. They fired/tested them going west over the Pacific. Of course, this was either coincidence or absurd. We observed this stationary object for a quarter of an hour.
Per the article in the SF CHRONICLE (surely researchable) the exact date could be determined.
 This experience made both I and my friend calmly believing we had observed a craft unknown to both us or the public. Silent, huge, hovering, no turbulence.