Now, make a new layer, and select the circle from the previous layer by holding ctrl and clicking on that layer in the layer menu. select the circular marquee tool again and, while holding alt, subtract the top part of the selection. now, while holding alt AND shift, crop a middle arched section and fill it with black.. blur this until you get the desired effect and set the transparency to around 50%.

Make a new layer and select the circular marquee again.. make a smaller circle and fill with a white to transparent gradient. transform it to be a round oval lying horizontal in the top section of the circle to get the shininess. make a duplicate layer, set it to color dodge, set transparency to 25%, and move it up or around until it looks right.

Now you can mess around with it until it looks right. Good Luck.