Rainbow F-Chat

#include <stdio.h>
#include <windows.h>
#include <ctype.h>
#include <string.h>

int main(int argc, char *argv[]) {
  int Bold = 0;
  int KeepColor = 0;

  const char *ColorNames[] = {"red","orange","yellow","green","blue","purple"};
  int DelayBy = 1;
  char *Peek;
  long CurColor = 0;

  // enable flags if found
  if(argc>1) {
    for(Peek=argv[1];*Peek;Peek++)
      if(tolower(*Peek) == 'b')
        Bold = 1;
      else if(tolower(*Peek) == 'd')
        DelayBy = strtol(Peek+1, NULL, 10);
      else if(tolower(*Peek) == 'k')
        KeepColor = 1;
  }

  while(1) {
    char Input[2048], Rainbow[0x10000]="", Temp[64];
    if(Bold) strcpy(Rainbow, "[b]");
    fgets(Input, sizeof(Input), stdin);
    int ColorActive = 0, FirstIsGraph=1;
    if(!KeepColor)
      CurColor = 0;

    for(Peek=Input;*Peek;Peek++) {
      if(*Peek == '\n' || *Peek == '\r') continue;

      if(isgraph(*Peek)) {
        if(DelayBy == 1) {
          sprintf(Temp, "[color=%s]%c[/color]", ColorNames[CurColor%6], *Peek);
        } else {
          if(CurColor%DelayBy == 0) {
            sprintf(Temp, "[color=%s]%c", ColorNames[(CurColor/DelayBy)%6], *Peek);
            ColorActive = 1;
          } else {
            if(FirstIsGraph) {
              sprintf(Temp, "[color=%s]", ColorNames[(CurColor/DelayBy)%6]);
              strcat(Rainbow, Temp);
            }

            if(CurColor%DelayBy == (DelayBy-1)) {
              sprintf(Temp, "%c[/color]", *Peek);
              ColorActive = 0;
            } else
              sprintf(Temp, "%c", *Peek);
          }
        }
        FirstIsGraph = 0;
        strcat(Rainbow, Temp);
        CurColor++;
      } else {
        Temp[0]=*Peek;
        Temp[1]=0;
        strcat(Rainbow, Temp);
      }
    }
    if(ColorActive) strcat(Rainbow, "[/color]");
    if(Bold) strcat(Rainbow, "[/b]");

    if(!strcasecmp(Rainbow, "") || !strcasecmp(Rainbow, "[b][/b]")) continue;
    const char* output = Rainbow;
    const size_t len = strlen(output) + 1;
    HGLOBAL hMem =  GlobalAlloc(GMEM_MOVEABLE, len);
    memcpy(GlobalLock(hMem), output, len);
    GlobalUnlock(hMem);
    OpenClipboard(0);
    EmptyClipboard();
    SetClipboardData(CF_TEXT, hMem);
    CloseClipboard();
  }
  return 1;
}