Remove the tails and/or shells from your shrimp and throw them in a pot with the water.  Boil this gently for 10 - 15 minutes, then strain it out.  Toss the shells and reserve the liquid.

Melt the butter in a large soup pot.

Add the onion and saute.  I added my bay leaf, too, at this point.

Add the flour.  If you want it to be gluten-free, skip this and add 2 tbsp. of arrowroot at the end...or add the traditional 1/2 cup of white rice (cooked).

Stir the flour in, then add the shrimp stock.  If you don't have any, you could use vegetable or chicken stock or even just water instead.

Add the tomato paste and the sherry and stir until smooth.  Then, add the raw shrimp (chopped up).

Stir them in.  Give this about 5 minutes to cook until the shrimp have shrunk and turned pink.  Then!  It's time to blend it up until it's mostly smooth.  You can do this in a regular blender in batches.  I used my immersion blender.

Add the cream and then salt to taste.  You're ready to serve.