Take a look at the Okuma Deadeye rods. They make a 7'-10" telescopic (Model #DE-C-7101M-T) that has a nice action for $30 - $35 each. Lot's of rods in that series for just about every application at very reasonable costs.

If you shop around a bit you can pair it up with a 20 series Okuma Convector (CV-20D) for about $100 per set up.