TIME OF DAY is part of the scene heading. Keep it simple: don't say "9:47 AM," just say MORNING. Usually, though, you can get by with DAY or NIGHT. You usually want to avoid "dawn" and "sunset"-- shooting when the sun is coming up or going down is much more difficult. Occasionally, you may want to specify the relationship in time between a scene and what's come immediately before: some common ways of doing this are LATER and MOMENTS LATER. And sometimes you may want to indicate that a scene comes immediately after a preceding scene, with no intervening time. Here's where you use CONTINUOUS-- but reserve CONTINUOUS for situations where the action is truly continuous, like, for example, we have EXT. BOB'S HOUSE-- DAY and Bob comes running up the street, sprints up the path and dives through the front door right into INT. BOB'S HOUSE-- CONTINUOUS. What's happening is we've got non-stop action, we're just changing from watching it happen outside to watching it happen inside.