The Worcester Sherd

Reading the Runes we get a two word phrase - scir ?dis - 

The first word is easy, it is the Old English word scir, which has the meaning, "bright" or "shining," The second word, if I guess the missing first letter could be the ᛁ rune, which would make the word Ides or Idis. Idis in Old English are female spirits connected with fate and existing in wider Germanic culture.  In England the term took on a later usage as title similar to "lady" for noble women, which in itself is a strange curiosity. In Beowulf, Grendel's mother is called, ides aglæcwif, "Ferocious lady."

Old Norse - dís - goddess, female spirit, female ancestor

Old High German - itis - supernatural female spirit, goddess

Old Saxon - idis - supernatural female spirit

Old English - ides - supernatural female spirit, noble lady

So my idea is the insciption reads - Scir Idis - Bright or Shining, Lady or Female Spirit. 

In one sense it could be a prayer to the Idis, or spirits of fate, by flattering them into bringing good luck. 

On the other hand it could being a love poem to a regular woman, calling her the title Lady (in its most poetic form) to flatter her.

However before getting too enamoured with this idea, I will present an argument against  it. That is that many Lombard, Frankish, Bavarian and Alemanni female names, ended in "dis"

In the Migration Era, this was particularly common among the Lombards and well recorded in such female names as, Gundis (Battle Lady) and Landis (Land Lady). So rather the poetic interpretation could be a love poem to a foriegn woman, from one of the above tribes... And with modern archaeology suggesting among the large number of different Germanic tribes that made up the Anglo-Saxon migration, the Lombard contingent was one of the largest, the Lombardic name idea is highly plausible.