LoaderMax and caching files over multiple sessions?

[BladePoint]

I'm working on a Flash that will stream large amounts of audio. I would like to be able to cache the audio on the user's computer so it doesn't have to get re-downloaded every time the user goes to my website and views my Flash. Does LoaderMax have any capabilities like that?

 

If not, I was thinking of saving the audio with SharedObject or FileReference. If a cache of the audio file doesn't exist, or the CRC doesn't match, it gets downloaded from the server instead.