When you read this word the slow way, be sure to touch and say the sounds phonetically, like /sssăăăĭĭĭd/, not how the word is actually pronounced (which would be /sĕd/). Only read it as said when you read it “the fast way.”
This approach develops the concept of non-phonetic (or “funny”) words without undermining the importance of the whole system of sound-symbol correspondence that you are teaching them. The last thing we want is for students to think that the existence of “irregular” words means that there is no reason to “sound out” words.
This task introduces quotation marks.