Black Hole Text Effect

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Black Hole Text Effect
Start by typing the text on a black background. Duplicate the layer and hide it.
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Double click the layer to open layer style window. Apply layer style with the settings shown.
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From layer palette reduce the fill value for the text layer to 0.
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From layer menu select layer style>>create layers. Select and merge resulting layers. Press Ctrl+U to open hue/saturation window. Apply settings as shown.
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From filter menu select artistic>>plastic wrap. Apply settings as shown.
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Duplicate the layer and change the layer mode to linear burn.
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Duplicate the layer twice and move one instance upwards by few pixels and other downwards by few pixels.
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Unhide the original text layer that we kept hidden in the first step.
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