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exo_doc:
Well, its a lot of different things. As I said, almost all of it is inconclusive on the face of it: lights in the sky, vague "landing impressions", worthless collections of stories, etc. There are very few daylight disks with clear structure, very few saucer pieces, etc. Of those, I can't think of a single item that is really compelling (and I think I know all of the famous ones pre-1985). A sad axiom is that the better a UFO photo is, the more likely it will be shown to be a hoax.
The biggest mistake UFO believers make is pointing to the vast pile of, forgive me, shit and thinking that it means something because of volume. It doesn't. Each case must be considered separately. And there is where it all falls apart. I have mentioned elsewhere how invariably the UFO top 10 lists are overrun with dubious cases. And these are supposed to be the best of the best!
Is there something mysterious in all that stuff? Maybe.
But haven't you ever felt disappointed as you turned the pages of a UFO book and realized that they were never going to actually get to the good stuff? Did you ever wonder if that was because there really isn't any good stuff?