Step 11
Activate the text tool by typeing T and using Arial Black at 300pt type in some text as seen below.
Step 12
Duplicate the text layer you just created by going to LAYER >> DUPLICATE LAYER . Select the top text layer then activate the layer styles dialog box and apply the styles shown below.
Step 13
Now Select the bottom text layer layer and apply the following layer styles:
Step 14
Duplicate both text layers then merge the resulting layers together by going to LAYERS >> MERGE LAYERS in the menu and name the merged layer "Reflection". Now flip the reflection layer vertically by going to EDIT >> TRANSFORM >> FLIP VERTICAL in the menu. Then activate the move tool by typeing V and drag the reflection layer down until it lines up with the base of your text as seen below. Bring the layer opacity down to 35% as seen below.
Step 15
Create a layer mask to the reflection layer by going to LAYER >> LAYER MASK >> REVEAL ALL in the menu. Activate the gradient tool by typeing G, make sure the default black to white gradient is selected and that the gradient tool in in linear gradient mode, then drag the mouse as seen below to make the reflection fade out gently.
Step 16
Above the Reflection layer create an new layer and name it "Shadow". Then activate the brush tool by typeing B , selct a basic round brush with opacity 35% and size 20px then draw along the base of each letter as seen below.
Step 17
To clean up the shadow use the motion blur filter by going to FILTER >> BLUR >> MOTION BLUR in the menu and enter the settings below.
Step 18
Duplicate the entire "Content" folder by dragging it to the new layer icon as shown below. Then name the duplicate layer Backup and hide it by clicking the eyeball icon.
Step 19
Merge the "Content" folder by going to LAYERS >> MERGE GROUP the right click on the merged layer and choose "Create Clipping Mask".
Thats all!
You should now have something like what you see below.

