There are two interesting, and opposing, theories about urban street bike parking.
According to one school of thought, you should leave your wheels in the most visible place possible. The thinking behind this is that would-be thieves are less likely to do their work if they're being watched.
The other notion is that the bike should be hidden, camouflaged even. The idea behind that, I believe, is that a thief won't take what he or she can't see.
Perhaps the owner of this bike can't decide:
Or is the bike playing peek-a-boo?