[LEDE-DEV] Is LOCALMIRROR for setting up a local mirror directory purely for tarballs?

[rpjday at crashcourse.ca]

I want the OE equivalent of a local source mirror, purely for tarballs that I
don't want to have to download each time I do a new build (as in, I'm  
not trying
to define a local feed, just a tarballs directory). Is that what  
LOCALMIRROR is
for? The full pathname to a directory chock-full of nothing but tarballs?
Thanks.

rday