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"and"-ing between two cells

I want to apply a conditional format on a spreadsheet, but based on the content of two cells. I would like to do the following:

• Select the area in the worksheet
• Format +> Conditional Formatting => Condition => Formula is
• In the field next to "Formula is", I would like to apply the following: $B2="SomeText" AND$C2="SomeOtherText"

However, that doesn't work... When applying on ly \$B2="SomeText", all works fine: all the rows in the selected area are nicely formatted the way I want it.

What's wrong with my approach in the AND-ing condition?