WATCH: Is This a UFO in Wainscott?

Aliens in East Hampton?

Last week, sombody posted this video on YouTube of what they claim is a UFO hovering in the sky above Wainscott on March 24.

Here's more from his eyewitness account, from a post on Latest-UFO-Sightings.net:

I was outside with my dog, and I had seen several objects in the night sky which is frequent, I have reported these repeat occurences to MUFON..I saw a white star like object ascend over my tree line in the North West direction, where it then hovered. I was able to get two cameras from inside the house, when I returned moments later, the object was in same place. I have video footage, not that clear in some clips, but quite clear in others. This object was in the sky heading in an south Easterly direction for approx 1 1/4 hours. 

What do you think?