glowing red shape-shifting ball sighted early morning

I got to the school bus stop before anyone else that morning.  It was a clear day and the sun was up.  No clouds, very clear and crisp day.  Upon putting my bag down I noticed what could best be described as a glowing red ball in the sky.  It was about half the size of a full moon.  I watched it for about 30 seconds and it was completely still with no sound.  I ran through all the possibilities in my head of what it could be, and can say with confidence it was not an plane, helicopter, planet, balloon, or secret military aircraft unless they have started making perfectly round glowing red ones.
All of a sudden, after about 45-60 seconds it starts moving left slow at first then faster.  It also becomes "flatter" as it moves.  I started walking up the street to keep it in my line of sight, and after about a quarter mile I ran back to the bus stop to catch it on the other side of some tall trees.  It was gone.
That was about 15 years ago, and I have never seen anything in the sky since that I could not explain.  I remember this event like it was yesterday.  I still cannot account for what it could have been.
Witness indicates that date is approximate.  PD