Conditional Formatting based on Text match from If Statement?

I want to highlight a cell if the text displayed from an IF formula is equal to the cell content.

CELLS BK10:BN10 are merged and have entered into them the following text "SELL"

Cells BJ20:BP20 are merged and contain the following formula which currently results in the cell displaying "SELL"

=IF(BM22<=-0.08,"SELL", IF(AND(BM22>-0.08,BM22 < -0.03),"NO INDICATION", IF(BM22>=-0.03,"HOLD")))

Cell BM22 is a percentage calculation of the differences between two different days of volume for this stock and that formula is: =(BH22/BH25)-1 Cell BM22 currently is calculating the result to be -65.65%

When I set up a CLASSIC Conditional Formatting using a formula (="If($BJ$20=""SELL""") to check the if the text in cells BK10 match the text displayed in cell BJ20 - I get no error messages and no formatting?

I am using Mac Office Excel 2011. I feel like I have tried everything including changing the Number selection type of the cells to TEXT. Nothing seems to works. Thanks, grateful for the assistance, Michael