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I couldn't find P1553 but P1552 says: "A" Camshaft Position Actuator Control Open Circuit Bank 1. Looks like a Vanos problem. Maybe a sticky actuator when it's cold.
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--Marcelo
'06 Arctic Metallic 325i | Sport Package | 6MT | Dinan Stage III suspension | Dinan exhaust | 330i manifold swap! Click here! | Active Autowerke tune | 135i Brake Calipers | Deiselboost caliper brackets | E46 M3 front rotors |