The Collaborative International Dictionary of English v.0.48:

Rede \Rede\ (r?d), v. t. [See Read, v. t.]
   1. To advise or counsel. [Obs. or Scot.]
      [1913 Webster]

            I rede that our host here shall begin. --Chaucer.
      [1913 Webster]

   2. To interpret; to explain. [Obs.]
      [1913 Webster]

            My sweven [dream] rede aright.        --Chaucer.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Rede \Rede\, n. [See Read, n.]
   1. Advice; counsel; suggestion. [Obs. or Scot.] --Burns.
      [1913 Webster]

            There was none other remedy ne reed.  --Chaucer.
      [1913 Webster]

   2. A word or phrase; a motto; a proverb; a wise saw. [Obs.]
      "This rede is rife." --Spenser.
      [1913 Webster]

WordNet (r) 3.0 (2006):

rede
    v 1: give an interpretation or explanation to [syn: rede,
         interpret]
    2: give advice to; "The teacher counsels troubled students";
       "The lawyer counselled me when I was accused of tax fraud"
       [syn: rede, advise, counsel]