In this tutorial we’ll create a Web 2.0 text effect:

1. Start by making a new file with the Width=1024 and Height= 768.

2. Select a font, I used Cooper Std with a size of 460 and write your text, I will write and.

3. Select the text layer, then Ctrl+Click on the text thumbnail to select the text contour, delete the text layer, make a new layer then using the Gradient Fill Tool with the following gradient: on the left endpoint use #6291c0 color and on the right endpoint use #cce6f9 color, then click the right endpoint and a small ball should apper in the middle, drag that ball to the right a little like in the image below:

4. With the selection still active and on the new layer with the Gradient Tool fill the selection by draging like in the image below:

5. Press Ctrl+D to clear the selection, then go to Layer->Layer Style->Stroke, set the Size=7, the color used is #293a47.

6. Select the blue text layer, then Ctrl+Click on the layer thumbnail to select the text contour then using Eliptical Marquee Tool in substract mode or with Alt pressed make a long circle in the lower part of the text like in the image bellow:

The result should look like the image bellow:

7. Hold the selection and make a new layer, then fill the selection with white and set the layer opacity to 30%.

8. Hide the background layer then go to Layer->Merge Visible, you can unhide the background layer now.

9. Duplicate the layer with the text then go to Edit->Transform->Flip Vertical, then mooveit under the text like in the image below, this will be the reflction layer.

10. Go to Layer->Layer Mask->Reveal All to add a layer mask.

11. Select the layer mask by clicking on the layer mask thumbnail like in the image bellow:

12. Using the Gradient Tool with a White to Black gradient fill the layer mask by dragiing like in the image bellow:

The final result should be like the one bellow, I just added a light blue background: