Bike was locked up outside of Riot Fest on the fence just west of the entrance on Sacramento and Ogden. Numerous other bikes were in the area as well as police and other security. A thief still managed to cut both cable locks and remove the bike in broad daylight. Once I realized my bike had been stolen, I stayed near the area to try and find a police office to file a report as well as look for indications of which direction the thief might have gone. In that time, I observed two other middle-aged, African American, males who seemed to be 'casing' the area looking for other target bikes to steal. When I saw them checking out bikes while walking along the fence, I asked them 'is that your bike?' and in both cases, the proceeded to mutter back at me and quickly made their way across the street and out of sight.