Verifying if a time falls within a range

Excel 2003

I'm trying to verify whether a certain stock traded in a day. I have a data feed that either inputs a time if it traded today or a date if it didn't. I also need to make sure the time falls within this range because I can't use the price if falls outside of normal market hours.

I'm using
=IF(OR(N10>"9:00:00 AM",N10<"4:31:00 PM"),N10,"NONE TODAY")

Currently this is returning the time. If I manually change the reference cell to a date, then excel is putting out a number. If I change the OR function to AND, then the cell returns none today.

I'm open to other ways to get either a true or false value.

Thanks in Advance.

Something else to consider, what is the value in N10 really? In excel everything is really a number, dates and times are just formatting of those numbers. Times are never really just times, there are always dates associated whether you realize it or not. When you use TIMEVALUE("09:00:00") you are setting the value to "01/00/1900 09:00:00 AM". The value in cell N10 is most likely a Date/Time that is formatted to display only the time (change the cell format on N10 to one of the date/time styles and you will see what is really there). This is probably why the formula isn't working. The 4:15:04PM is really "2/27/2012 4:15:04PM" which is > "01/00/1900 09:00:00 AM" but is not < "01/00/1900 04:31:00 PM" therefore your conditional statement is false.

Here are some workarounds that should do the trick...

If you simply want to use time and your data is always for today with different times:
=IF(AND(MOD(N10,1)>TIMEVALUE("09:00:00"),MOD(N10,1)<TIMEVALUE("16:31:00"),N10,"NONE TODAY")

The MOD (modulo) function takes the date time in N10 (which is really a number where the portion ahead of the decimal is the date and the portion after the decimal is the time) and returns only the remainder (time portion) of it setting the date to 1/0/1900 just like your TIMEVALUE function putting your math back in parity. It's a handy way to convert date/time to time only for calculations like these.

If you had several days worth of data and wanted only the cells that were for today's date and between those times you could use:
=IF(AND(N10>TODAY()+TIMEVALUE("09:00:00"),N10<TODAY()+TIMEVALUE("16:31:00"),N10,"NONE TODAY")