A star that flashes like an airplane but is stationary

Every night I look out my window and see a fairly bright flashing light. At first I thought it was an airplane but then I realized, it was utterly stationary. It flashes blue, red and sometimes white. I usually see only one, but occasionally there are two of them. One night while watching them, a bright yellow flame, took off from the distant hills nearby. I thought it was a firework, but it never went off and it did not go straight up, it went overhead.

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