Advanced reflections - part 1

Everyone knows how to get a reflection for a text.
You just simply duplicate the text and then flip it vertically.
After that you add a layer mask and in this mask you add a gradient.
After that you could lower the opacity.

But now we take all of this a step further.
We are going to create advanced reflections.

First of all get the image shown in the picture from http://www.sxc.hu/photo/205924. (thanks to ppreacher)
Next cut it out using your favourite tool/way to cut an object out.
I have used the pen tool and this is the result.
You can also copy this image it will be easier to cut this one out since it has no shadows anymore.

Now call the layer with the speaker Object.
First select the "object layer" and then duplicate the layer (ctrl + j).
Place the duplicate of the layer below the original layer and rename it into "Object reflection".
Now drag the reflection below the real speaker.
This absolutely does not look like it should.

The 3 arrows show where the speaker touches the ground.
This is also the place where the reflection should start.

Now lets first select both (the "Object" layer and the "Object reflection" layer) layers.
And move the speaker and the reflection up, so we can see a little of the speaker and everything of the reflection.

Now select the "Object reflection" layer.
And make a selection simmilar as in the one in the image.
And press ctrl + j, this will copy everything in the selected area and paste it into a new layer.
Call the new layer "Refl. left side"