your question needs more defining,not sure what you mean. Are you referring to a transparent watermark?
Thank you angel sent from heaven! You have saved me much torment and anguish!
just create a New Layer of black with 50% approx opacity. Add text layer on top... Done
It looks as though the blending mode was set to overlay or something to me, as well as the low opacity.
Defo overlay used, notice how the colors have deepened via saturation of applying the overlay.
PHOTOSHOP - IT'S ALL IN THE DETAIL