mk2 caddy annoying squeel when cold

as title says theres a horrible squeeling noise coming from the small section between the end of the rocker cover and dizzy cap but i goes away once its been running for 10 mins or so, iv got the 1.4 8v petrol lump. just wondering if anyone else has heard of this befor? iv not looked up or checked if theres any sort of reduction gear in there to run the rotor arm that could be the problem or what, anyone know if this is a common fault? i got a horrible feeling it might be the cam shaft running dry at that end that makes the noise but would of thought it would get worse when hot?, iv witnessed a cam siezure before on a suzuki wagon r when i was doin my apprenticeship and is sounds like that before it locked up!

i can make a vid and whack it on youtube if that helps, i just want to hear your opinions before i start taking it apart and mess about the the ign timing on the dizzy mount.

any ideas will be much appreciated!