Create a new document with these settings.


Choose the bucket tool and fill the background with the color #000000 black.

Use the text tool, and type your text.


Duplicate the text layer, by either pressing Ctrl + J, or right clicking the layer and selecting duplicate layer.


Select the text layer, then click the Edit menu then Transform, then Flip Vertical.


Move the flipped text so its below the original text.


Now add a layer mask to the flipped text, by clicking the Add layer mask icon.


Now, select the gradient tool, by right clicking the fill bucket and selecting the gradient tool.


Choose the default black to white gradient, and select the first gradient type.


Now using the gradient tool, draw a vertical line from the bottom of the flipped text to the top.


Your text should now look like this:


Now lower the opacity to 50%.


This is your final image: