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I have three red ones, an orange, a yellow, a blue and a green LED Chaser.
They run for months on two or four AA alkaline battery cells and are very bright.
Instead of an LED always turned on, the LEDs blink for a moment then after chasing around a few times there is a pause. Then the average battery current is very low.
The LEDs are in a circle mounted on a CD.
At night the blue and green ones light up car reflective licence plates pretty far away.