Valaida Snow: ''Hot Snow - Valaida Snow Queen of the Trumpet Sings and Swings.'' Valaida Snow, trumpet and vocals, with various groups. Rosetta Records - Women's Heritage Series - Foremothers Vol. 2 RR 1305 - Once again record producer Rosetta Reitz has rescued another female jazz musician from obscurity. The multi-talented Valaida Snow - trumpeter, singer, conductor, arranger, composer, and dancer - toured internationally in the 1930s, '40s, and '50s, performing with many top jazz names, including Count Basie, Earl (Fatha) Hines, and Fletcher Henderson. Her European fans referred to her as ''Little Louis,'' because of her Armstrong-influenced trumpet style. Her sweet voice is reminiscent at times of Billie Holiday, especially on ballads, and she sings the up-tempo numbers with spunk and sassy humor. These performances, which span the years from 1936 to 1950, include well-known jazz numbers as well as two Snow originals -the bouncy ''High Hat, Trumpet and Rhythm'' and ''Tell Me How Long.'' Another tune, ''Around the World,'' recorded in 1945, is one of the earliest examples of overdubbing, where Valaida scats and harmonizes with herself. She is accompanied for the most part by small ensembles - several tracks were cut with two Swedish swing bands, but two others, ''Solitude'' and ''Lonesome Road,'' were recorded in London with a larger orchestra - Buzz Adlam's 40-piece Orchestra and the Day Dreamers (vocal ensemble). Valaida is primarily an entertainer, but that's no slur on her appealing slide-and-growl trumpet style or her nicely modulated jazz vocals.