fascinating nighttime footage of ring shaped UFO

Thanks to my buddy OrionSixNine for tipping me to this one!
Almost 6 minutes of nighttime footage of a bizarre ring-shaped object, clearly executing all sorts of maneuvers above somewhere near redondo beach in CA, I'm guessing, as that's what the photographer says.
There's lots of wide-angle shots giving perspective with houses and streetlights in the foreground, making this one very difficult for the skeptics to dismiss, I'd imagine. Some bonehead in the comments said "Der, looks like a streetlight!" (Ok, I added the 'der' part) but obviously he didn't watch the entire footage, 'cause streetlights don't move from one side of the sky to another, change direction and orientation and elevation, and have red lights that come on and off randomly.
Really impressive...
UPDATE: for reasons unknown, the user took down the video :(